Last week we told you about the new Tesla Model X.
This is Tesla Motors' (NASDAQ:TSLA) newest addition to its lineup. And with an SUV-style body and winged doors, the new Model X will give you up to 270 miles on a single charge. Not bad.
But how will it sell?
Well, if pre-orders are any indication, this could be a winner for Tesla.
Since first unveiling the Model X last week, the company has taken orders for $40 million worth of this new electric offering. That's pretty incredible, considering the vehicle isn't necessarily inexpensive. We're talking anywhere from $60,000 to $100,000 – depending upon how fancy you want to get, and how much additional range you want.
That being said, I couldn't be happier for Tesla. This truly disruptive company deserves its reward.
Tesla reports its Q4 after the closing bell today. Quite a few analysts remain bullish on the stock, including Jefferies analyst Jesse Pichel, who put a $35 price target on the stock just a few weeks ago.
Calling it the “Apple of autos,” Pichel seems to be quite bullish on the company's Model S, which hits the highways this year. Here's what he had to say. . .
Model S offers unique value proposition: We believe the right economic question for the Model S is not “what is the payback period,” but rather, “would you buy a Model S with similar price/performance to a BMW 5-series and the ability to use cheaper electric fuel?” Unlike other EVs or hybrids that require a significant upfront price premium, the Model S is priced comparably to other luxury sedans in its segment.
I don't know how Q4 will look for Tesla. But long-term, I do know that Tesla is not a company I would bet against.