Tesla Motors Inc (NASDAQ:TSLA) announced a new financing plan for its Tesla Model S on April 2, and almost immediately evoked the revulsion of customers and journalists alike. The plan said that a customer could buy a Tesla Model S on the financing program for as little as $500 a month. The actual cost of the program is over $1,000 at its least expensive.
Tesla Motors Inc (NASDAQ:TSLA) values its reputation, so it did something that very few corporations do these days. It admitted it was wrong, it apologized, and it announced a new deal that is, in some ways, even better than the first.
According to the terms of the new deal, Tesla Motors Inc (NASDAQ:TSLA) customers will be able to buy one of the Model S premium sedans for around $800 per month on a 72 month loan. The company will also guarantee a resale price for the car which, according to the firm’s CEO Elon Musk “will be higher than that of BMW, Audi, Mercedes, Lexus or Jaguar.”
At time of writing Tesla Motors Inc (NASDAQ:TSLA) shares had risen by around 1 percent. The firm’s shares appear to be stabilizing after hitting their highest level of all time just days ago. After today’s announcement, those skeptical of Tesla Motors Inc (NASDAQ:TSLA) and its prodigious rise should take a second look, and those shorting the company should really question their decision.
Tesla Motors Inc (NASDAQ:TSLA)’s business is founded on excellent customer service and ferocious brand loyalty. The company offers an excellent electric car, the Tesla Model S, to customers at a reasonable price. It works just like Tesla says it should and most of the customers are happy.
Much like Apple Inc. (NASDAQ:AAPL), Tesla Motors Inc (NASDAQ:TSLA) will not build a business with people in its employ, it will build one with fans of the product spreading the word. When a company makes a mistake, customers love an earnest response and a quick resolution.
Tesla is able to harness the power of its customers. That is the most important thing about the company. After apologizing,