Tesla, Inc. is an American car and energy company founded in 2003 by 2 engineers. Originally founded as an automotive company, focused on electric vehicles, over time Tesla has come to offer solar energy products as well as electric and powertrain components for other car companies.
It’s clear from the design, look, and feel Tesla offers a premium product at a premium price. An aspirational brand from its founding, Tesla positioned itself as a luxury electric vehicle in stark contrast to its early competitors like Chevy Volt and Toyota Prius.
They have successfully differentiated themselves in the luxury vehicle space because they are electric, and in the electric car space because they are luxury. I call that a win win.
In differentiating themselves in the electric car space, we find that their cars are more quality, jam packed with luxury features like hands-free driving, the large Ipad like dash, and also offer a longer driving range than all other electric vehicles.
In addition to the car itself being premium, the customer experience is unique and high level as well. For example: Tesla offers special designated parking sections in large parking lots that feature great lighting, Tesla branding, and usually close proximity to a door. Talk about making Tesla drivers feel special!
Finally, to further the premium experience for Tesla, they do not sell their cars in traditional show rooms. Instead, they sell their cars online, where new models often sell out or require a long wait time, and in company own showrooms sometimes inside shopping malls where they able to really control the narrative.
Overall, Tesla has done an incredible job of carving a niche in the market, and holding on to that popularity even with the rise of other luxury electric vehicles. The appeal of the Tesla is easy to see in its design, purchasing experience and throughout the lifetime of vehicle ownership.
It doesn’t hurt that the company’s CEO is an outspoken proponent for crazy and life changing ideas! Who wouldn’t want to align with that. I would!