Tesla's vehicle buyback program could yield $368m profit in 2016
As Bloomberg News reports, any additional financial obligation stemming from the pre-set buyback price and challenges from a lack of a dealer network may be offset by the fact that Tesla doesn't have to work with dealerships that would take a cut of the resale. Wells Fargo and US Bancorp are backing Tesla's customer finance plans.
Tesla's predicted 2016 revenue and profit figures reflect the gains from about 10,000 vehicles being bought back from customers. Of course, a bunch of those folks may choose to hold onto their Model S EVs, dings and all, instead of selling them back to the automaker, but that speaks to the whole different subject of the Model S holding up better than expected and a customer base not willing to part with them.
So far in 2013, Tesla has had better sales than the company originally estimated, selling about 9,900 vehicles during the first six months of the year. The company doesn't publish monthly vehicle sales figures, but every quarter we get another insight into how well things are going. Anyone want to make an early guess for Q3?
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