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Tesla Model X to outsell Model S, 'devour' premium SUV market

It's still about a year away, but the arrival of the Tesla Model X is already expected to have a major impact on the premium SUV market. According to Morgan Stanley, the all-electric Model X, Tesla's third model following the Roadster and Model S sedan, is "ready to feast" on the current crop of high-end SUVs.
Not only does Morgan Stanley expect the Model X to do well against other vehicles in its class, it's expecting the new SUV to even outpace the critically acclaimed Model S, with the X accounting for a larger share of sales by the end of 2016. The sales boost provided by the Model X should also contribute to a healthy jump in Tesla's current $250 stock price. MS is expecting Tesla shares to hit about $320, and has called it a "top pick in US autos," according to The Los Angeles Times.
As for how Morgan Stanley is expecting such strong results for a car that literally no one outside of Tesla has driven, it cites Elon Musk's company's increased access to both money and technological expertise relative to the Model S project. The firm also points to Tesla's larger investments in the Model X project so far.

New Jersey Becomes Third State To Ban Tesla Sales

State motor vehicle officials have approved a regulation that would require all new car dealers to obtain franchise agreements to receive state licenses, a move critics say will hurt the electric-car industry's attempts to expand. The regulation, adopted Tuesday by the state's Motor Vehicle Commission by a 6-0 vote, effectively prohibits companies from using a direct-sales model, which cuts out the middleman and takes vehicles directly to customers through smaller retail establishments. It will take effect April 1. The regulation was supported by the New Jersey Coalition of Automotive Retailers, which has noted that state law has long required automakers to sell their vehicles through dealers. But Palo Alto, Calif.-based Tesla Motors, one of the electric-car companies that would be affected by it, called it "an affront to the very concept of a free market." Tesla said in a statement posted on its corporate website that it has been "working constructively" with the commission and Republican Gov. Chris Christie's administration since last year to delay the proposal so it could be handled through "a fair process" in the state Legislature. The company said the commission and the Christie administration went "beyond their authority to implement the state's laws at the behest of a special interest group looking to protect its monopoly at the expense of New Jersey consumers." Administration officials disputed Tesla's claims. "Since Tesla first began operating in New Jersey one year ago, it was made clear that the company would need to engage the Legislature on a bill to establish their new direct-sales operations under New Jersey law," spokesman Kevin Roberts said. "This administration does not find it appropriate to unilaterally change the way cars are sold in New Jersey without legislation, and Tesla has been aware of this position since the beginning." Tesla has two retail locations in New Jersey and has planned to expand in the state in an effort to sell its electric cars, which retail for around $60,000 before incentives. Related Gallery Electric Cars And Hybrids Don't Have To Be Frumpy By the Numbers Tesla Car Dealers

Norway about to run out of EV incentives; plan to be reviewed

As electric vehicle advocates in Norway may ready to celebrate, executives over at Tesla Motors and Nissan may be preparing for a healthy bawl. That's because Norway, whose financial support of plug-in vehicle use have pushed the country to the forefront of plug-in vehicle adoption, is about to reach its government-imposed threshold for electric vehicle and plug-in vehicle incentives, Hybrid Cars says. Two years early, in fact. Norway's perks for EVs and PHEVs include free access to bus lanes, highway tolls, ferries and parking, not to mention a big tax rebate. As a result, the country is less than 250 units away from hitting its 50,000-vehicle limit for those perks, which were initially estimated to expire in 2017. In fact, last month, more than 25 percent of the four new cars sold in Norway were plug-in vehicles. The government is now saying it will review the incentives and put forward a new plan in the next budget, which is due in May. Late last year, Nissan put out a video saying that electric vehicles had about a 15-percent new-vehicle market share in Norway, and that the Japanese automaker had sold more than 15,000 all-electric Leaf vehicles in the country since starting sales there in 2011. Last spring, The Wall Street Journal reported that the Tesla Model S broke Norway's all-time monthly sales record for a single model in March 2014, with almost 1,500 Model S vehicles sold. This is for a country whose population is less than that of Colorado. Whether those days will soon be gone remains in question. Advocates will push for some sort of extension on the perks, but opponents in government say the incentives have cost the country as much as $500 million a year in tax revenue. News Source: Hybrid CarsImage Credit: Elbilforeningen/Flickr Government/Legal Green Nissan Tesla Electric incentives government incentives