A while ago I wrote about Tesla Motor Inc . and why I would take a look at investing in the company. Well, this morning I was reading CNNmoney.com and I came across an article saying that Tesla Motor Inc. will make its first profits ever. The article goes on to say that “The company expected to sell 4,500 units of the Model S in the quarter. But sales surpassed the 4,750-unit mark this weekend “.The company is trading at $46.00 per share. According to CNNMoney.com it can go as high as $51.00 , medium target of $42.00 and low as $30.00. If you own any amount of shares in Tesla I would keep it.
I still think it’s a worthy company as we move away from using oil to fuel our cars I can see Tesla Motors in the forefront of electric cars. I wish they would make their cars more affordable but since electric cars are relatively new I understand that making their cars affordable could take a while. Right now Tesla cars sell at $62,400 after tax credits.
According to cnnmoney.com “The weekend’s announcement also came with news that Tesla has decided to scrap production of its entry-level model, which sold for a base price of $59,900. It was equipped the smallest battery, a 40-kilowatt hour version that would deliver a range of 160 miles.Instead, the company is sticking with the larger 60 kilowatt hour battery pack option, with a range is closer to 230 miles. That model sells for $62,400 after a $7,500 federal tax credit “. Long term survivability of the company depends on how accessible they make the cars to the common man.