Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek


Filed under: Rumors


Tesla Popular Among the American Rich

The popularity of Tesla Model S and its unexpected success is mostly explained by the interest of wealthy, techno-savvy California rich

1 Updates
Tesla Popular Among the American Rich
Photo Credit: Getty Images

YouTube Videos Comments

Full Story

Tesla Popular Among the American Rich

Tesla Motors prepares to release it quarterly earnings next week, here's an analysis that reflects on the electric-car maker's out-of-nowhere success. It's rich people.

Tesla's Model S is a techno-wonder in the same style as the other cutting-edge products coming out of the Silicon Valley. No wonder it is a must-have car among the California rich. But, it is little more difficult to explain its resounding success in other American rich enclaves. According to Jessica Caldwell, a columnist for the, Tesla is the most-registered brad new car  in eight of the 25 wealthiest American zip codes. She used car registrations data and cross-referenced them with the wealth data from the Forbes magazine.

While the rich always went for a hit new car, buying a Tesla is a bit more different: it requires quite a bit of mindset change. For example, buyers of an all-electric car have to adapt their garages to charge the car. They have to try not to forget to plug it in and, most difficult, they have to think how to charge it when they are not at home.

Tesla can go 265 miles per charge, and with the starting price of $70,000, it is seriously expensive. But, that does not seem to bother American wealthy communities. For example, in Atherton, California, the price of an average home is $6.7 million. More than 15 percent of these seriously rich people own Tesla. Similarly, in Altos Hills, about 11 percent of residents bought Tesla.

Tesla’s dramatic success in California is still to catch on in the rest of the country. It is probably just a matter of time, considering that California geeks have always been the trend setters.

Source: USA Today


iPad Air Giveaway. Win a free iPad Air.

You Might Also Like


Sponsored Update


More From the Web

Shopping Deals


<a href="/latest_stories/all/all/27" rel="author">Bijon Kumar Pramanik</a>
Bijon Kumar Pramanik is an experienced technology writer working since years in the consumer electronics field.




blog comments powered by Disqus

Latest stories

Jim Parsons Talks About &quot;The Big Bang Theory&quot; and Upcoming Nominations
Jim Parsons Talks About "The Big Bang Theory" and Upcoming Nominations
Proud of being nominated for his role in HBO movie "The Normal Heart."
Benedict Cumberbatch Takes &quot;Ice Bucket Challenge&quot; To New Level
Benedict Cumberbatch Takes "Ice Bucket Challenge" To New Level
The Brit Star is nominated five times for the challenge.
Kari Byron, Tory Belleci and Grant Imahara Exit MythBusters
Microsoft set to unveil Windows 9 on September 30th
Microsoft set to unveil Windows 9 on September 30th
While Threshold is likely to be named Windows 9, it’s unlikely that Microsoft will name its upcoming Windows release at its press event.

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.