Tesla Model S Convertible: Get Yours Modified!

Newport Convertible Engineering will customize 600 Tesla Motors Inc (NASDAQ:TSLA) Model S Coupe and 600 2-door convertible Tesla Model S in three locations: Huntington Beach, Barcelona and Dubai. Although the plan to create a convertible was announced earlier, the pictures and video have just been revealed recently.

Tesla Model S Convertible: Get Yours Modified!

Tesla should offer convertible version

If customers want a soft-roof, then they will have to pay an additional $25,000, (the price of Nissan Leaf Electric vehicle), and a hard-top will cost around $45,000, which is the price of BMW i3 EV.

Tesla is not planning a Model S Convertible version, which is surprising as the firm’s Roadster was a convertible. The Model S targets the rich and environment-friendly, who are ready to shell out six figures on a clean technology. However, to get the convertible version, owners will have to set aside good amount of cash for the custom shop.

Newport Convertible Engineering has already taken on the task of making a convertible version of hundreds of Tesla Model S sedans and selling them across the world.  A Model S coupe version designed by NCE will also be available.

Rising popularity for Model S, Model X

Tesla is selling an increasing number of its Model S sedans. This is an encouraging sign for the company, which is targeting 35,000 Model S sales in 2014. According to the second-quarter report, the EV manufacturer has shipped 7,579 Model S vehicles out of 8,763 units manufactured. This is a strong ramp up for a company that started with shipping just 10 units in 2012. The Model S demand is at an all-time high, and to meet the demand, the company is increasing its production.

According to its second-quarter letter to shareholders, “average global delivery wait times increased because our production growth was unable to keep pace with increased demand.” By the end of 2015, Tesla is planning to increase its annual production to 100,000 cars.

While Model S is stealing the show, and proving to be a tough challenge for other electric car makers, analysts are also upbeat on the Model X, which will be launched sometime next year. Morgan Stanley analyst Adam Jones said that the sales of Model X will overshadow Model S, and will gulp down the premium SUV market. Jones went on to say in that Model X could even sweep every car of the year award from the automotive media.

About the Author

Aman Jain
Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com