Tesla Motors, Inc.’s (TSLA) Model S has obtained the No. 1 position in Consumer Reports’ Top 10 Picks for 2015. With this, the Model S has occupied the top slot for two consecutive years. Consumer Reports appreciated the over-the-air software updates provided by Tesla.
Consumer Reports scores vehicles on the basis of driving experience, interior-finish quality, safety and reliability. Tesla’s Model S obtained 99 out of 100 and received 3 out of 5 for reliability in the performance test. The vehicle is priced at $89,650 and offers 84 mpg.
It is expected that the impressive ranking will benefit the sales of Model S. As a result, Tesla needs to enhance its production capacity. The company sold 9,834 vehicles worldwide in the last quarter. CEO Elon Musk plans to increase capital expenditures to $1.5 billion in 2015. This will enhance the production capacity and support the construction of the battery factory.
In addition, Tesla aims to assemble 2,000 vehicles per week by 2015-end. The automaker is also focused on enhancing production to 500,000 automobiles by 2020.
Another automaker occupying a bright spot in the Consumer Reports is General Motors Co. (GM). The automaker’s Buick Regal occupies the best position in the sports sedan category, while Chevrolet Impala has been declared the winner in the luxury large car segment. Last year, BMW AG 328i was the winner in the sports sedan section.
Meanwhile, Audi A6 has obtained the tag of the best car in the luxury car segment this year, while Subaru Legacy has been declared the best vehicle in the Midsized Sedan category. Toyota Motor Corp.’s (TM) Prius has been declared the best car in the Green car division. Subaru Impreza has obtained the leading position in the compact car division and Subaru Forester is the top vehicle in the small SUV section. Toyota’s Highlander has emerged as the midsized SUV segment leader and Honda Motor Co., Ltd.’s (HMC) Odyssey has been declared the best among minivans.
Currently, Tesla carries a Zacks Rank #3 (Hold).
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