Tesla Model S Rules in Some of America's Wealthiest ZIP Codes


  • 2013 Tesla Model S Picture

    2013 Tesla Model S Picture

    The wealthy can't get enough of the Tesla Model S, according to a new analysis from Edmunds. | November 01, 2013

Just the Facts:
  • The Tesla Model S is the top-selling vehicle this year in eight of America's 25 wealthiest ZIP codes, according to Edmunds' analysis of new-car registration data from Polk.
  • All eight communities are located in California.
  • In Atherton, California, the Model S accounts for 15.4 percent of all new-car registrations.

SANTA MONICA, California — The Tesla Model S is the top-selling vehicle this year in eight of America's 25 wealthiest ZIP codes, according to Edmunds' analysis of new-car registration data from Polk.

All eight communities are located in California.

In Atherton, California, the Model S accounts for 15.4 percent of all new-car registrations. Atherton is near Tesla's Palo Alto headquarters and is the wealthiest ZIP code in America, with a median home price of $6.6 million.

"It's a classic pattern for any retail product, including cars: the wealthy and influential buyers set a trend, and the mainstream aspires to follow," said Jessica Caldwell, an Edmunds senior analyst. "As Tesla increases the number of models and improves its price points, it could find itself in demand by more than just those in these wealthy enclaves."

Tesla CEO Elon Musk says he intends to offer an under-$40,000 vehicle within the next four years.

Edmunds says: It should come as no shock that the wealthy are snapping up the electric Model S.

Comments

  • skibird skibird Posts:

    Which eight communities?

  • pommah pommah Posts:

    These people are mostly buying electric cars to be able to use the HOV lane - which is always wide open, even in rush hour, in the Bay Area's horrific traffic. When the HOV lane was open to hybrids, they all went out and bought Priuses. Now it's just electric cars (and of course, cars with more than 1 person in them).

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