The future is looking mighty bright for Tesla Motors.
The upstart car company saw the sale of 22,477 cars last year, with a record 6,892 vehicles sold in the fourth quarter alone, according to Tesla’s letter to shareholders released today. Compared to some of the other auto manufacturers, this might seem meager, but Tesla Motors isn’t your typical car company — and I’m not simply referring to its vehicles being electric, either.
Unlike other auto makers, Tesla insists on selling its cars directly to consumers. You walk into a Tesla store — much like you would an Apple Store — to sample the products and order a custom version of their car. However, many state laws prohibit such direct transactions, instead requiring that licensed car dealer sell automobiles. So if I wanted to purchase a Model S in Texas, I’d have to order it from the company’s website from my home. That vehicle would technically have to then be driven/delivered from California to my residence. This makes the logistics of selling the car much harder, not only because of the inconvenience but also the cost of having it delivered individually as people purchase them.
But those setbacks don’t seem to have slowed Tesla’s growth, as today’s earnings show. Quite the contrary, actually. Tesla is predicting an even brighter 2014.
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