Tesla Motors Sets New Pricing for Award-Winning Model S

Tesla Motors Sets New Pricing for Award-Winning Model S 
New Pricing Reflects First Increase in Four Years at Only Half the
Rate of Inflation 
PALO ALTO, CA -- (Marketwire) -- 11/29/12 --  Tesla Motors (NASDAQ:
TSLA) originally unveiled the Model S in March 2009 with a base price
of $57,400 ($49,900 after federal tax credits). Today, Model S is the
most award-winning car of the year and the base price remains at
$57,400, the same price set over three and a half years ago. During
this same period of time most automotive companies have had at least
three price increases and general inflation (CPI) has gone up 8.75
percent. A straight 8.75 percent CPI increase would now yield a base
price for Model S of $62,400, an increase of $5,000. Tesla is
increasing prices only half that amount, giving Model S a new base
price of $59,900 before federal tax credits. 
The price increase announced today will be for new reservations
starting January 1, 2013. These new reservations will begin
deliveries several months later, which means the new prices will
actually go into effect over four years after Tesla originally set
base pricing for Model S. 
"We believe it is a positive reflection on our design process and
disciplined, long-term planning that enabled us to increase prices
for the first time in four years at only half the rate of inflation,"
said George Blankenship, vice president of worldwide sales and
ownership experience. "As a company we will always strive to deliver
our customers the most innovative cars in the world while minimizing
price increases as we have done today." 
This price increase will not apply to anyone who has or makes a
reservation by end of day on December 31, 2012... as long as they
finalize their order within a reasonable, predefined timeframe after
being invited to configure their Model S. 
In Canada, the base price of Model S will increase $2,600CAD and
implementation will be the same as in the U.S. 
About Model S
 Model S is the world's first premium sedan built from
the ground up as an electric vehicle and has been engineered to
elevate the public's expectations of what a premium sedan can be. At
the heart of Model S is the proven Tesla powertrain, delivering both
unprecedented range and a thrilling drive experie
nce. With a rigid
body structure, nearly 50/50 weight distribution and a remarkably low
center of gravity, Model S offers the responsiveness and agility
expected from the world's best sports cars while providing the ride
quality of a luxury performance sedan. Model S has received many
awards and accolades during its first year on the market, including
Motor Trend's prestigious 2013 Car of the Year.  
Setting the bar for electric driving range, Model S offers 40 kWh, 60
kWh and 85 kWh battery options. All deliver unprecedented range, with
the 85 kWh variant achieving an EPA-certified range of 265 miles. All
three batteries use automotive-grade lithium-ion cells arranged for
optimal energy density, thermal management, and safety. 
Without an internal combustion engine or transmission tunnel, the
interior of Model S has more cargo space than any other sedan in its
class and includes a second trunk under the hood. The Model S
interior features a 17" in-dash touchscreen with Internet
capabilities, allowing for streaming radio, web browsing and
navigation. 
About Tesla
 Tesla's goal is to accelerate the world's transition to
electric mobility. Palo Alto, California-based Tesla designs and
manufactures EVs and EV power train components for partners such as
Toyota and Daimler. Tesla has delivered more than 2,400 Roadsters to
customers worldwide. Model S, the first premium sedan to be built
from the ground up as an electric vehicle, began deliveries in June
2012. 
Media Contacts
Christina Ra
Tesla Communications
310-400-0276 
Shanna Hendriks
Tesla Communications
650-681-5179