Tesla Motors, Inc.TSLA is collaborating with Nordstrom Inc. JWN to open a new gallery in Los Angeles on Saturday. The 400-square-foot gallery will be located in the men's department on the first floor of Nordstrom at The Grove mall.
The gallery will display the Model X SUV and allow interested consumers to check out various interiors and trim options. Prospective buyers can also take on-site test drives. Further, Tesla is trying to obtain a sales license for the site, which will allow it to sell vehicles from there instead of just displaying them.
The gallery will be open through the end of 2016. Customers' response to the location will decide the course of Tesla's partnership with Nordstrom. The two companies do not have plans to collaborate on any other store or gallery at the moment.
Tesla often opens galleries in malls rather than stand-alone locations, which is convenient for customers and helps increase footfall. These galleries do not sell vehicles. This allows the company to open galleries even in states where direct sales of vehicles are banned.
TESLA MOTORS Price
Tesla currently carries a Zacks Rank #4 (Sell). Some better-ranked automobile stocks include Lear Corp. LEA and Superior Industries International, Inc. SUP . Both the stocks sport a Zacks Rank #1 (Strong Buy).