Electric vehicle giant Tesla (TSLA) is taking a page out of South Park‘s book, and is launching a car line so remarkably exclusive that most people will never get the chance to buy one, even if they had the cash required. It’s the Model S Signature series, the last of the Model S line before it is discontinued for good. The idea was good enough for investors, who sent Tesla shares surging over 4% in Tuesday afternoon’s trading.
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Trade TSLA with leverageThere will be 250 Model S Signature editions made, reports note. These cars will be offered to a “select group of fans,” reports note, who will be specifically invited to purchase one. If they take Tesla up on its offer, those fans will have to shell out at least $160,000 each to get their hands on one of the cars. The cars will come with free supercharging and Full Self-Driving access, reports note.
But that is not all that makes the Signature special. A gold Tesla badge will be included, along with gold carbon-ceramic brakes as well as a “garnet red” paintjob that is unique to the line, reports suggest. There will also be a number of Model X units made as well, though just how many of these is unclear as yet.
One Major Problem
Deutsche Bank analyst Edison Yu—who has a four-star rating on TipRanks—recently took a ride in a Cybercab, and found at least one serious issue that needs to be addressed. The biggest problem right now seems to be travel time.
Yu’s ride through downtown Austin—which featured traffic described as “solid”—was a bit mixed. Technologically, Yu noted, the experience was “…impressive and seamless.” The car behaved admirably, and the safety monitor did not have to intervene at any point. One problem remained, though, in terms of “route logic” that left the Cybercab taking a lot longer than it needed. It turned a trip that normally took 20 minutes into a trip that lasted close to 40.
Is Tesla a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 11 Holds, and six Sells assigned in the past three months, as indicated by the graphic below. After a 38.69% rally in its share price over the past year, the average TSLA price target of $402.29 per share implies 10.03% upside potential.
