Tesla Inc. (NASDAQ:TSLA) has sold out its Model S ‘Signature’ Edition inventory as Elon Musk bids farewell to the luxury Model S and X vehicles.
Reservations Closed, $56 Million Revenue
In a post on the social media platform X on Thursday, influencer Sawyer Merritt shared that the automaker had run out of ‘Signature’ Edition units. “The $160,000 Model S Signature Edition is officially sold out,” he said, adding that Tesla had closed reservations for both Model S and X units.
“Between the 250 Model S and 100 Model X Signature Editions, Tesla generated a combined $56M in revenue,” Merritt shared. Notably, Tesla has barred customers purchasing the limited editions from selling their vehicles within one year of purchase.
Ross Gerber Laments The End Of Models S, X
Responding to Merritt, investor Ross Gerber of Gerber Kawasaki criticized Tesla’s decision to sunset its luxury offerings. “Why would they stop selling this car. It’s a crime,” Gerber said, decrying the Model S and X’s end.
The investor has been against the decision and had previously said that he was “very sad” that Tesla was ending the production of the “best vehicles of all time.”
Tesla’s New Models
Tesla has reportedly been working on two all-new models for its lineup, with one of the touted vehicles targeting the affordable EV space. The reports prompted investor Gerber to predict that the upcoming vehicle could just be a Cybercab with a steering wheel and pedals.
The other new model was teased by Musk via multiple cryptic social media posts recently, with the vehicle possibly being offered in a 7-seater layout. Adding fuel to the fire was an all-new frame being spotted at Tesla’s Gigafactory in Texas, where it can be seen that the vehicle had enhanced space in the rear and cutouts for large windows.
According to Benzinga Edge Rankings, Tesla offers satisfactory Momentum, but poor Value. It provides a favorable price trend in the Long term.
Price Action: TSLA declined 0.78% to $388.90 at market close on Thursday, further slipping 0.19% to $388.18 during the after-hours trading session.
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