Tesla Motors Inc (NASDAQ:TSLA), the youngest U.S. automaker by well over a decade, continues to pile up the accolades from Consumer Reports. In a recent poll by the magazine, Tesla has found itself in the top five brands amongst people surveyed. That’s a strong move given the fact that Tesla came in at 11th last year. The results are based on a December survey of 1,578 vehicle owners who were asked to rank brand attributes including quality, safety, value, design and technology.
Tesla Motors lands in fifth place
Tesla Motors Inc (NASDAQ:TSLA) trailed only Toyota Motor Corp (NYSE:TM) (TYO:7203), Ford Motor Company (NYSE:F) and Honda Motor Co Ltd (ADR) (NYSE:HMC). as well as General Motors Company (NYSE:GM)’s Chevrolet in the survey.
Tesla Motors Inc (NASDAQ:TSLA) has been a darling of Consumer Reports since last year when the magazine gave the Model S the distinction of being (one of two) the best car it has ever reviewed.
“Consumers are influenced by word of mouth, marketing and hands-on experience,” Jeff Bartlett, Consumer Reports deputy automotive editor, said in a statement. “Perception can be a trailing indicator, reflecting years of good or bad performance in a category, and it can also be influenced by headlines in the media.”
For investors in Tesla, that statement is terrifically obvious bordering on understatement. Shares in the upstart manufacturer have tripled in value since May 8, the day before Consumer Reports published its Model S review. It should be noted that the day prior to Consumer Reports releasing its review, Tesla shocked analysts by reporting its first quarterly profit. That said, in November, Consumer Reports also reported that the Model S also topped its owner satisfaction poll despite two crash-related battery fires.
A big move
Perhaps even more impressive than moving up to fifth in the poll is the fact that Tesla displaced Daimler AG (OTCMKTS:DDAIF) (ETR:DAI) (FRA:DAI)’s Mercedes-Benz. Mercedes-Benz fell to seventh with Subaru taking the spot between Tesla Motors Inc (NASDAQ:TSLA) and Benz in a big move up from 13th place last year. Toyota added to its lead in the poll, while Ford switched spots with Toyota the two coming in second and third.
The poll also painted a picture of cliche with two British luxury lines, Jaguar and Land Rover, holding on to the two bottom spots in this year’s poll. Never mind that each are now owned by India’s Tata Motors Limited (ADR) (NYSE:TTM) (BOM:500570).
Tesla Motors Inc (NASDAQ:TSLA) is expected to report positive fourth-quarter financial results on Feb. 19. The consensus estimate has analysts calling for a profit, excluding some costs of $0.18 per share. Net loss is expected to narrow to $0.02 per share with sales doubling to $668 million.
Quite an accomplishment for the “new kid on the block.”