Tesla Motors, Inc.
) is actively undertaking international expansion to boost sales.
After entering the European and Chinese market, the company has
now started taking orders for Model S and Model X in Japan,
according to autoevolution.
While Model X is not in the market yet, Tesla has started
taking reservations for the crossover vehicle in Japan for a
deposit of $5,000. The reservation of the Signature edition of
Model X can also be done for a significantly higher amount of
$40,000. Tesla Model X is scheduled to hit the market in
Meanwhile, Model S can be booked in Japan with a deposit of
$2,500. The sedan is currently on display at the 2013 Tokyo Motor
Show. Tesla is the sole American car manufacturer participating
in the motor show. The electric carmaker expects Japan to become
its second largest market over time.
In August this year, Tesla started the reservation of Model S
in China. Deliveries to China should begin next year. The company
started the delivery of Model S in Europe in the same month.
Moreover, Tesla launched a new assembly and distribution
center for Model S in the Netherlands in Aug 2013, which will
allow the automaker to transport parts anywhere in Europe within
12 hours. Tesla's operations in Europe will expand further with
the opening of 15 stores and service centers in the next few
Tesla anticipates delivering a little less than 6,000 Model S
vehicles in the fourth quarter of 2013 and 21,500 vehicles
globally in 2013. The automaker expects Model S sales to cross
40,000 by 2014, assuming the demand in Asia and Europe meet
Tesla currently retains a Zacks Rank #3 (Hold). Other major
automobile stocks worth considering are
Honda Motor Co., Ltd.
Ford Motor Co.
). While Ford carries a Zacks Rank #1 (Strong Buy), Honda and
Daimler are Zacks Rank #2 (Buy) stocks.
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