Tesla Inc (NASDAQ:TSLA) Model S Sales In 2016 Up Only 1%

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Tesla Inc (NASDAQ:TSLA) Model S Sales In 2016 Up Only 1%

Tesla Inc (NASDAQ:TSLA) has had an incredible record of growth and sales of a majority of its vehicles in the last couple of years.  In fact, it has grown to the extent of 50% compound average. However, the company’s sales for its Model S were not any vibrant in 2016 because it garnered just a meager 1%.

Apparently, Model S deliveries grew nearly 60% year over year in the U.S, which is one of the well-established markets for Tesla. From this statistic, the company is optimistic about a better future for the 2012-launched sedan and will not be intimidated by the 1% growth.

Tesla has some good reasons to be optimistic about Model S going forward

Since its launch in 2012, Tesla has been so aggressive in marketing the Model S while at the same time rolling out updates that were expected to entice customers. Among the many updates is the launch of the highest-range Model S, which has the ability to drive 335 miles on a single charge.

Other previous updates include the inclusion of sensors for autonomous driving in all of its vehicles and a flagship P100D Model S. This has a zero-to-sixty time of 2.5 seconds, which takes place when the ludicrous mode is activated. Nonetheless, the latest features in Model S the likes of standard self-driving hardware stand out and are expected to facilitate better sales in 2017.

But Tesla is working on another strategy

Tesla’s customers in Asia will soon be embracing an enhanced package, which will be all inclusive in the purchase price. The package will have the costs of insurance and maintenance. The company says it has reached out to various insurance providers who will help in the delivery of its new project.

Jeff Evanson, Tesla VP of Global Investor Relations who is so excited the company’s new move says, “It’s our vision in the future that we’ll be able to offer a single price for the car, maintenance, and insurance in a really compelling offering for the consumer. And we’re currently doing that today.”

Tesla has this believe that its vehicles have a safety record. Thus it will be seeking to have more transparency for other options. In the meantime, Tesla’s stock closed at $273.51 a fall of $3.88 or 1.40%.