Tesla’s Cost-Saving Pitch in India Lifts Shares Marginally
Tesla (NASDAQ:TSLA) shares edged higher Wednesday after the automaker highlighted significant cost savings for Indian buyers of its Model Y. The company estimates customers can recoup roughly one-third of the vehicle's 60 lakh rupee ($67,283) price tag through fuel and maintenance savings compared to traditional gas-powered cars.
Sharad Agarwal, Tesla's India general manager, emphasized the economic advantages of ownership, noting home charging costs approximately 10% of gasoline expenses. The value proposition extends to resale, with Teslas maintaining strong residual values that facilitate cheaper upgrades despite steep upfront costs.
Market response remains cautious as Tesla has registered just 118 vehicles in India to date. The campaign underscores Tesla's strategic push into emerging markets where price sensitivity dominates consumer behavior.
