Tesla Motors Inc (NASDAQ:TSLA)’s Model S sedan added another jewel to its crown when Consumer Reports magazine named it the best-reviewed car of 2013. In Consumer Reports’ automobile ranking, the Model S beat out the BMW 328i, Audi A6 and Toyota Prius to be named the “best overall” car.
Even skeptics will be convinced that Tesla offers best overall driving experience
Jake Fisher, the director of auto testing at Consumer Reports, said he reviewed 260 cars this year. The parameters for the rating included reliability, quality and consumer satisfaction. The magazine’s Annual Auto Issue surveyed 1.1 million subscribers as part of its review process. What Jake says is enough to convince even the biggest doubters that the Model S offers the best overall driving experience.
Fisher told Bloomberg that Tesla Motors Inc (NASDAQ:TSLA)’s Model S is truly a groundbreaking car, and it’s the best car he has ever driven. The electric vehicle has a razor-sharp handling, blistering acceleration, a versatile cabin and compliant ride. But all these things just scratch the surface of what the Model S really is, says Jake Fisher. Its massive 17-inch touch screen controls more functions than you can think of. The Tesla car has zero-emission, full Internet access and provides you an ultra-quiet driving experience.
The highest rating from Consumer Reports is highly valuable for automakers. Consistent top rankings helped Japanese automakers Toyota Motor Corporation (NYSE:TM) and Honda Motor Co Ltd (ADR) (NYSE:HMC) (TYO:7267) establish themselves in the U.S. In fact, Volkswagen AG (ADR) forged its comeback in the U.S. after the magazine endorsed its Passat with high rankings.
Tesla sales to reach $75 billion by 2020
Tesla Motors Inc (NASDAQ:TSLA) got another boost from Morgan Stanley yesterday. The research firm raised its price target on the stock from $153 to $320 sending Tesla shares at a record high. Morgan Stanley analyst Adam Jonas says that the electric vehicle maker has the capabilities to disrupt the trillion-dollar car industry. And the company has the opportunity to disrupt the electric vehicle industry by commercializing battery packs.
Elon Musk plans to build a gigafactory that will combine every element of battery production, potentially bringing down the battery costs. Moreover, Morgan Stanley estimates Tesla Motors Inc (NASDAQ:TSLA)’s revenues to jump 10-fold by 2016 and 30-fold by 2020. The company reported $2.5 billion in revenue in 2013. If Morgan Stanley’s estimates turn out to be accurate, Tesla will have a staggering $75 billion of revenue in 2020.
Tesla Motors Inc (NASDAQ:TSLA) shares surged another 3.13% to $255.77 in pre-market trading Wednesday. The stock has gained about 600% over the past 12 months.