Tesla Motors Inc (TSLA) Begins Certified Pre-Owned (CPO) Program


Tesla Motors Inc (NASDAQ:TSLA) appears to have preferred a soft launch of its Certified Pre-Owned (CPO) program, even as its officials disclosed that the company was working on it. The company’s executives indicated that the program would be similar to other luxury automobile manufacturers. An owner of a Model S has reportedly posted images of a look alike, official CPO. However, the electric car maker has yet to announce it officially.

Buyer Not Aware

The buyer of Tesla Motors Inc (NASDAQ:TSLA)’s CPO Model S vehicle seemed to have been not aware of the deal and first posting to the company’s club forums to discuss issues relating to his brand new car. However, forum members pointed out that the company was yet to launch the CPO program officially, prompting a follow-up of postings, including the CPO warranty package images.

A buyer of the CPO Model S disclosed a payment of approximately $75,000 on February 20. The buyer felt that the price was lower than other dealers for a similar car. The warranty extends for 100,000 miles or six years from the date of original purchase. Therefore, the company believes that, unless owners are marathon drivers, the coverage will extend until, at minimum, 2019.

MSRP Particular Model S

A section of consumers believe that the price a buyer paid for Tesla Motors Inc (NASDAQ:TSLA)’s Model S does not appear to be a low one. However, taking into consideration the MSRP, that particular model would have enjoyed a better price of approximately $100,000.

Whatever may be, one thing seems to be clear, in the absence of any official announcement, the events point out that the company has a clear-cut plan to start its CPO program. It could make an announcement anytime now.

Tesla Motors Inc (NASDAQ:TSLA)’s CEO, Elon Musk, was confident of his chances of winning the right to sell the company’s cars in the Garden State to base the CPO program.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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