Tesla Model S: Now Everyone Can Afford One

If you’ve been wanting to buy a Tesla but the high price tag has kept you from buying one, then this is your chance to get one. Of course it will be a bit smaller than you might expect. Oh yes, and it will be a toy. But for $1.09, what a deal, right?

Tesla Model S: Now Everyone Can Afford One

Mattel makes a Tesla Hot Wheels car

Bloomberg reports that Mattel has begun selling a Tesla Model S as a Hot Wheels car. The toymaker previously sold a Tesla Roadster, which now apparently goes for between $30 and $50. This means the Hot Wheels version of the Model S may end up becoming a hot collectible worth a lot more than the up-front price. Unfortunately it probably also means that it will be pretty hard to find the Hot Wheels Model S.

Tesla tweeted a hint about Mattel’s announcement before the Hot Wheels car was officially announced:

Mattel attempting a turnaround

Hot Wheels SVP Chris Down told Bloomberg, “Tesla is a brand that resonates across a range of consumers, from collectors to kids. Everyone relates to the vehicles.”

Mattel is certainly hoping that’s true anyway, as it needs all the sales it can get. CEO Bryan Stockton was dismissed earlier this year amid falling sales and a slipping stock price. Mattel director Christopher Sinclair was then appointed to the CEO post.

Hot Wheels has been the only major brand owned by Mattel that has seen growing sales recently. The Barbie brand is the toymaker’s biggest business, but sales of the dolls declined 16% last year. Sales on Hot Wheels cars increased 3% in 2014. Last year Mattel sold 300 million units.

How the Tesla Model S was developed

Mattel reportedly worked with Tesla’s designer to create the tiny Model S. The Hot Wheels car is available in red and silver and is the toy version of Tesla’s highest-end Model S, the P85D. It will also sport red-lined rims.

In 2008 when Hot Wheels released the toy version of the Tesla Roadster, it made about 1 million of the cars. Fans of Tesla have apparently been clamoring for a toy version of the Model S for at least a couple of years.

About the Author

Michelle Jones
Michelle Jones was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Michelle has been with ValueWalk since 2012 and is now our editor-in-chief. Email her at Mjones@valuewalk.com.