Tesla Motors, founded in 2003 by a group of Sillicon Valley engineers, is company that designs, manufactures and sells electric cars and electric power train components. It currently has 37 stores located primarily in North America. Some of their innovative products include the Tesla Roadster, the first battery electric sports car, and Model S.

This fast-growing company went public on 2010 and is looking to launch its next product: Model X.

The product life cycle of Model S is arguably in the growth stage. The Model S has become the bestselling electric vehicle in America. They are in the growth stage because electric vehicles are more accepted and sales are rising.

The new segment of consumers who are interested in purchasing electric vehicles  is on the rise. As electric vehicles become a norm, Tesla can further promote their products to a larger customer base.  Tesla has plans to expand production and increase distribution to meet the increasing demand in Europe and Asia. It expects to reach an annual production rate of 40,000 by late next year as it starts selling in Europe and Asia.

Product quality of Model S is maintained, for example, it was rated the safest car by NHTSA.  Its advantage lies within the lack of gas tank, which creates a much longer crumple zone to absorb a high speed impact. With a starting price of 70,000, Tesla Motor’s product pricing is maintained as the company enjoys increasing demand with little competition.

I believe Tesla’s growth will only rise from here on, as the electric vehicle industry will only continue to expand. As of now, I cannot imagine Tesla products reaching a maturity stage, as there are many untapped markets outside of North America.

Sources

http://www.teslamotors.com/en_CA/

http://www.teslamotors.com/fr_FR/about/press/releases/tesla-model-s-sales-exceed-target