Tesla car sales projections slashed as oil prices crash

tesla model 3 electric car 2017

For the majority of the world low oil prices are a good thing, cheap fuel and low inflation. However for the world’s leading electric car manufacturer – Tesla it’s cause for concern.

Tesla has seen its stock price take a beating as oil prices drop to record lows. Stocks are currently trading for around $200 a share, that’s a whopping fall of over 30 percent since record highs in September of this year.

This trend hasn’t gone unnoticed, Adam Jones a leading analyst at Morgan Stanley has slashed his sales projections for Tesla from 500,000 cars to just 300,000 by the year 2020.

Mr Jones said, “While nobody buying a Model S today (for nearly $105,000) is doing so to save on their monthly expenses, the longer-term story is far more dependent on the volume success of the Model 3. Oil price is a factor for Model 3”

Elon Musk, the founder and CEO of Tesla recently revealed plans for an all new model – the Tesla Model 3. It’s set to go up against the likes of the mighty BMW 3 Series with it’s sweeping good looks and a relatively low price tag of around £30,000.

Telsa first gained widespread attention with the release of the Tesla Roadster, the world’s first fully electric sports car. It was based on the Lotus Elise and powered by either a 248 hp (185 kW) or 288 hp (215 kW) AC motor. This allows the Roadster to accelerate from a stand still to 60 in just 3.7 second, and if driven carefully over 200 miles on a single charge.

 

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Karl is the editor and owner of this glorious website. He currently writes for numerous environmental websites, producing content for the greater good.His experience in graphic design, Wordpress and all things automotive have helped sculpt Hypermiler.co.uk into its current form from very humble beginnings.He has numerous IT qualifications, a red belt in Taekwondo and likes craft Ales.Get in touch via our Contact Page

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