Cars.com On Tesla: Musk Is Unlike Other Auto CEOs

Comments
Loading...

Speaking to Benzinga, Cars.com Consumer Affairs Editor Kelsey Mays said that the Tesla Motors Inc TSLA announcement that the company will end range anxiety is another example of CEO Elon Musk using social media to promote the brand and make news, unlike most other automotive CEOs.

Mays said that Tesla's Over-the-Air software updates were "novel" and that was "where the future of [the] automotive [industry] needs to go."

"Essentially what [Tesla does], is while the car sits in your garage at night, it gets an Over-the-Air update that delivers new technology and new features" which has included updates to the interface and drivetrain, Mays said.

The updates allow Tesla to update many things that traditionally would have to be done at a dealership, however, Mays said there were limitations and that Tesla would not be able to; for example, double the range of the Model S though a software update.

Mays also thought that very little additional range could be added to the existing cars, but that a calculation method for range and distance to charging stations might give drivers more tools to get home or to a charging location.

Range issues aside, Mays indicated that Tesla's focus on Over-the-Air updates was very pleasing to owners and that it was "a way to continually keep your owners satisfied."

Shares of Tesla recently traded at $194.30, down 0.72 percent.

Kevin Riley and Brianna Valleskey contributed to this report.

TSLA Logo
TSLATesla Inc
$262.38-0.41%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum92.39
Growth55.35
Quality94.33
Value11.03
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In: