Tesla Model S named best overall pick by Consumer Reports

Article by Anita Panait, on February 28, 2014

The Tesla Model S became the first American car to be named “best overall” pick from Consumer Reports and beat the Audi A6, Toyota Prius and BMW 328i in the independent product-testing magazine’s annual ranking. The reviewers singled out the Tesla Model S for its “blistering acceleration, razor-sharp handling, compliant ride and versatile cabin.”

“It’s truly a groundbreaking car,” Jake Fisher, Consumer Reports’ director of auto testing, told Bloomberg in an interview.  Consumer Reports reviewed around 260 vehicles. “You get into it, and it really stands out. It’s the very best car I’ve ever driven,” Fisher said. The top vehicle model ranking for US electric car maker may further boost its profile, expecting sales of Model S to surge around 56 percent to 35,000 cars this year.

Adam Jonas, a Morgan Stanley analyst, remarked that Tesla could almost double its share of the global car market to 1 percent if it could lower battery costs.

“If it can be a leader in commercializing battery packs, investors may never look at Tesla the same way again,” Jonas, who rates the shares overweight, wrote in a note to clients. “If Tesla can become the world’s low-cost producer in energy storage, we see significant optionality for Tesla to disrupt adjacent industries.”

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