Tesla Motors Inc To Open Two New Stores In Canada
Tesla Motors Inc (NASDAQ:TSLA) is all set to launch two stores and galleries over the next year into the heart of Canada, marking the electric vehicle (EV) company’s first stores for consumers living in Calgary, Alberta. The move comes as the region’s economy is getting severely impacted by low crude oil prices.
Base model of Tesla’s flagship sedan, the Model S, retails for CAD 78,300. It looks like a difficult task to sell such an expensive vehicle and a risky investment to open retail stores in a region where pickup trucks are really popular, and the economy is facing a hard time due to the sharp decline in oil prices
However, Tesla believes that there is already a large number of Model S vehicles on Calgary roads and that the demand will increase gradually. The company marks the region as a perfect market as the EV adoption rate has been inspiring.
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