Tesla stock soars, but is your next car, SUV or pickup a Tesla?

Tesla stock soars, but is your next car, SUV or pickup a Tesla?


Is your next car a Tesla?

Investors seem to think it might be.

Tesla’s future is looking brighter than ever after an 80% surge in the company’s stock this year has made it the second-most valuable automaker in the world.

But now the company needs to rapidly expand its vehicle lineup to live up to the financial hype.

The stock increase, placing Tesla behind only Toyota in market value, has baffled some skeptical analysts while giving others evidence that their long-held beliefs in Tesla’s potential could come true.

What’s clear is that for Tesla to live up to the hype, the company will need to quickly expand its roster — which currently comprises a luxury sedan and SUV and “lower-end” sedan that can top $50,000 — into a wide assortment of options, including potentially a mainstream car or SUV, with high-tech features and ample profits. Most major automakers sell several times as many vehicle models as Tesla, including body styles the company does not currently offer, such as pickups and large SUVs. Most offer a much wider range in price.

“They are going to broaden the lineup,” said Jessica Caldwell, executive director of industry analysis at car-research site Edmunds.

As of Friday morning, Tesla’s shares were trading in the range of $740, up from about $460 a month earlier and up from about $335 a month before that.

Key questions:

Will Tesla make a car under $30K?

For a long time, Tesla CEO Elon Musk promised that the company’s Model 3 compact car would be an affordable option. While the vehicle has been a hit, analysts say most buyers pay close to $50,000, well above January’s average vehicle price of more than $37,600, according to Edmunds. Technically the Model 3 starts at $39,990, but that comes with shorter battery range and fewer premium interior features than the souped-up versions. 


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By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.