Big spenders gravitate toward Tesla

November 1, 2013 12:00 AM

The Tesla Model S has made waves throughout the auto industry thanks to its top-of-the-line safety features and sleek design. While many drivers are drawn to the Tesla's easy vehicle maintenance and impressive mileage, others appreciate the allure of the expensive automobile - making the Model S incredibly popular with motorists who have the budget to spend on vehicles. recently completed an analysis that found that Tesla Model S is the best-selling car in eight of the 25 richest ZIP codes in the U.S. All eight of the communities are in California, with a few, including the wealthiest town of Atherton, Calif., located close to Tesla's headquarters. 

"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, a senior analyst for "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 does have plans to start expanding its offerings to appeal to a wider range of drivers. CEO Elon Musk previously announced that he wants to introduce a high-quality vehicle with a price tag under $40,000 within the next four years. 

Back to news