Tesla Motors Sets New Pricing for Award-Winning Model S

Thu Nov 29, 2012 8:10am EST

* Reuters is not responsible for the content in this press release.

  PALO ALTO, CA, Nov 29 (Marketwire) -- 
Tesla Motors (NASDAQ: TSLA) originally unveiled the Model S in March 2009
with a base price of $57,400 ($49,900 after federal tax credits). Today,
Model S is the most award-winning car of the year and the base price
remains at $57,400, the same price set over three and a half years ago.
During this same period of time most automotive companies have had at
least three price increases and general inflation (CPI) has gone up 8.75
percent. A straight 8.75 percent CPI increase would now yield a base
price for Model S of $62,400, an increase of $5,000. Tesla is increasing
prices only half that amount, giving Model S a new base price of $59,900
before federal tax credits.

    The price increase announced today will be for new reservations starting
January 1, 2013. These new reservations will begin deliveries several
months later, which means the new prices will actually go into effect
over four years after Tesla originally set base pricing for Model S.

    "We believe it is a positive reflection on our design process and
disciplined, long-term planning that enabled us to increase prices for
the first time in four years at only half the rate of inflation," said
George Blankenship, vice president of worldwide sales and ownership
experience. "As a company we will always strive to deliver our customers
the most innovative cars in the world while minimizing price increases as
we have done today."

    This price increase will not apply to anyone who has or makes a
reservation by end of day on December 31, 2012... as long as they
finalize their order within a reasonable, predefined timeframe after
being invited to configure their Model S.

    In Canada, the base price of Model S will increase $2,600CAD and
implementation will be the same as in the U.S.

    About Model S
 Model S is the world's first premium sedan built from the
ground up as an electric vehicle and has been engineered to elevate the
public's expectations of what a premium sedan can be. At the heart of
Model S is the proven Tesla powertrain, delivering both unprecedented
range and a thrilling drive experience. With a rigid body structure,
nearly 50/50 weight distribution and a remarkably low center of gravity,
Model S offers the responsiveness and agility expected from the world's
best sports cars while providing the ride quality of a luxury performance
sedan. Model S has received many awards and accolades during its first
year on the market, including Motor Trend's prestigious 2013 Car of the
Year. 

    Setting the bar for electric driving range, Model S offers 40 kWh, 60 kWh
and 85 kWh battery options. All deliver unprecedented range, with the 85
kWh variant achieving an EPA-certified range of 265 miles. All three
batteries use automotive-grade lithium-ion cells arranged for optimal
energy density, thermal management, and safety.

    Without an internal combustion engine or transmission tunnel, the
interior of Model S has more cargo space than any other sedan in its
class and includes a second trunk under the hood. The Model S interior
features a 17" in-dash touchscreen with Internet capabilities, allowing
for streaming radio, web browsing and navigation.

    About Tesla
 Tesla's goal is to accelerate the world's transition to
electric mobility. Palo Alto, California-based Tesla designs and
manufactures EVs and EV power train components for partners such as
Toyota and Daimler. Tesla has delivered more than 2,400 Roadsters to
customers worldwide. Model S, the first premium sedan to be built from
the ground up as an electric vehicle, began deliveries in June 2012.

    

Media Contacts
Christina Ra
Tesla Communications
310-400-0276

Shanna Hendriks
Tesla Communications
650-681-5179 

Copyright 2012, Marketwire, All rights reserved.

-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.