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article imageTesla Motors losing interest, stock prices

By Stephanie Medeiros     Jul 9, 2010 in Business
The electric luxury car company, Tesla Motors, is seeing a huge dip in their stocks while interest in the car is waning with green car enthusiasts and potential new car owners.
Owned by PayPal and SpaceX co-creator Elon Musk, Tesla showed promise with its creation and positive thinking toward green cars that didn't have the boring sameness of a Prius or SmartCar. However, the hefty pricetag -- a Tesla car runs around fifty thousand upward to one-hundred thousand dollars -- and the 'Waiting List' that many would-be buyers had to sign-up for could have been the biggest reasons for the drop off in shares and interest alike.
CNNMoney reports that the automobile company has lost around $55.7 million within the last year and about $260.7 million since Tesla Motors was created seven years ago.
Tesla Motors is based in California, but the cars are engineered in England. Tesla stocks went down 19 percent on Tuesday and didn't see much of a raise come Wednesday. Unfortunately, Tesla Motors won't be seeing a price drop any soon. Their sedan coming out in 2013 will have a whopping price of $50,0000 attached to it, whereas a Toyota Prius brand new is around $22,000.
David Menlow, president of IPOfiancial.com had this to say of Tesla at CNNMoney: "Tesla is a company that has tremendous promise, but has been unable to turn the perception of what it can do into a financially profitable model. It's going to take years to accomplish that."
Other luxury green car companies also showed promise (as seen in this article on Associated Content), however, have since been swallowed into oblivion and never heard of again on news sites. Though, analysts are showing promise with the Chevrolet Volt, which will prove to be great competition in the green car industry and fetch a price that will be a lot more affordable for everyday people wanting to make their carbon footprint smaller.
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