The highly anticipating Model X of Tesla Motors Inc. (NASDAQ:TSLA) is on the verge of entering the market and vehicle has created an inevitable hype among the audience. The high-end model will be reportedly starts at a bulky price tag of $132,000. Tesla is hoping high from its latest top-of-the-line Signature series SUV.
Since last year the sudden fall in oil prices has dragged down the market of electric vehicles. Tesla a renowned electric car maker is also experiencing the adverse effects of the cheap oil prices. Its top-line electric car brands are bowing down day by day. Yet the automaker giant is expecting to reap good results from its latest upcoming Model X.
The price of the Model X is $5k more than the price of Model S. The wide price gap is due to the Model X’s greater size and body sophistication. The S series brands starts with a price of $75,000 while customers would have to expense $132,000 for the base model.
Though looking at the initial reservations list, it seems the car has got a healthy audience. Almost 30,000 orders have booked for the vehicle, based on the data of buyers and Tesla fan forums. The ordered figures overwhelmed the sales figures of Model S in the first half of the 2015 i.e. 21,537 Model S sedans.
Tesla has put serious efforts to make the car look more agile and reliable. Tesla hopes to achieve its set sales target with the aid of this car for the year 2015. Tesla is expecting to deliver at least 50,000 vehicle in 2015 and 500,000 by 2020.
Despite the ongoing downfall in the demand of the electric cars due to the low gas prices, Tom Libby, a senior auto analyst with IHS Automotive, expects the Model X to continue that winning streak because of the segment it will occupy.
“Tesla has this unique design, and it is going right into the heart of the market in terms of body style,” Mr. Libby said. “As a pure status symbol I don’t know how you get close to this.”
