Tesla (TSLA) Receives Green Signal To Sell Model 3 In Europe
Zacks Investment Research | Jan 21, 2019 08:25PM ET
Tesla, Inc. (NASDAQ:TSLA) has received green signal to sell Model 3 in Europe, per Bloomberg. With this, the Electric vehicle (“EV”) pioneer crossed the final obstacle in selling its top seller in Europe. Per the news, delivery of the Long Range Battery version of the midsize sedan will begin in February.
This vehicle launch in Europe is of huge importance to Tesla as the U.S. federal tax credit on the purchase of Tesla vehicles has been halved, with effect from Jan 1, 2019.
Palo Alto, CA-based Tesla is optimistic about the European market. This automaker estimates the size of the European premium sedan market to be more than double of the one in the United States. Moreover, North America Model 3 delivery volume may not be sustainable until lower-cost versions are introduced. Given this, the launch in Europe will not only open up a huge opportunity for this carmaker but also help it compete with automakers in Germany for the premium car market.
Over the past year, shares of Tesla have outperformed the Zacks Investment Research
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