Sales in the United States of BMW AG electric cars equipped with range extenders jumped in August, inching closer or, depending on whom you ask, even surpassing sales of Tesla Motors Inc. luxury Model S sedan.
The continued success of BMW’s BMW, -1.12% i3 model, which sells for about $41,000 in the U.S., could pressure Tesla TSLA, -1.29% and dampen enthusiasm for its Model 3, Tesla’s mass-produced car that is expected to hit the road within the next two or three years. The Model 3 would carry a sticker price of about $35,000.
Tesla last week said it chose Nevada as the site of its battery factory, expected to churn out more and cheaper batteries — enough to power Tesla’s through its expansion into the mass market.
Tesla shares rose on intraday and closing records of $291.42 and $286.04, respectively, on Thursday. The stock was hit by profit-taking — and comments by CEO Elon Musk, who called Tesla shares “kind of high” — on Friday.
Shares recently gained 2% on Monday. Tesla is up nearly 88% so far this year, more than 10 times the gains for the S&P 500 index. SPX, -0.65%
At this year’s Moscow motor show, BMW hopes to win over security-conscious customers with the armored version of its X5 sport-utility vehicle which it says is AK-47-proof. Photo: BMW
BMW sold 1,025 BMW i3s in August, according to industry and analyst reports, up from less than 400 units in the previous three months. The car was launched in the U.S. in May.
Tesla’s Model S sales in August were estimated at around 1,000 by the website CleanTecnica, and 1,600 by Autodata Corp, 18% lower year-on-year. Tesla does not release monthly car sales.
Tesla is expected to launch the next vehicle in its line up, the crossover Model X, next year.
Back in May, analysts at Barclays flagged BMW’s electric-car offerings — which include the more expensive, sporty hybrid plug-in i8 — as a threat to Tesla. Tesla’s target audience is likely sandwiched between the i3 and the i8 models, the analysts said.
The other surprise last month in the electric car world was a jump for Nissan Motor Co.’s 7201, +0.48% NSANY, -0.97% Leaf. Nissan sold almost 3,200 of the fully electric Leafs in the August, a 37% jump from a year ago. Toyota Motor Corp. 7203, +0.70% TM, -0.88% Prius sales fell 11%, and General Motors Co.’s GM, -0.51% Chevrolet Volt sales fell 22%.
source: http://www.marketwatch.com/story/sales-of-bmws-electric-car-jump-in-august-2014-09-08
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