Tesla Inc. has sold out its Model S ‘Signature’ Edition inventory, marking the end of an era for the luxury Model S and X vehicles. This decision has been met with criticism from investors and fans alike.
Reservations Closed, $56 Million Revenue
The ‘Signature’ Edition units, priced at $160,000, have been snapped up by eager customers. According to influencer Sawyer Merritt, Tesla has generated a combined $56 million in revenue from the sale of 250 Model S and 100 Model X Signature Editions.
- The limited editions are barred from being resold within one year of purchase.
- The sold-out ‘Signature’ Editions have closed reservations for both Model S and X units.
Reactions from the Community
Investor Ross Gerber of Gerber Kawasaki has expressed his disappointment with Tesla’s decision to end the production of the Model S and X. “Why would they stop selling this car. It’s a crime,” he said, calling the decision a mistake.
What’s Next for Tesla?
Tesla is reportedly working on two new models to add to its lineup. One of the models is expected to be an affordable EV, while the other is shrouded in mystery. Elon Musk has teased the new model through cryptic social media posts, hinting at a 7-seater layout.
- The new models are expected to bring a fresh wave of excitement to the EV market.
- Tesla’s decision to end the production of the Model S and X has sparked debate among investors and fans.
Price Action
Tesla’s stock price declined 0.78% to $388.90 at market close on Thursday, further slipping 0.19% to $388.18 during the after-hours trading session.
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Note: This article is based on general information and should not be considered as investment advice.