Tesla Model S Named "Motor Trend" Car of the Year
Shares of Tesla Motors (NAS: TSLA) surged nearly 4% after hours last night on news that Motor Trend magazine has granted the fully electric sedan its highest honor: Car of the Year for 2013. Prior winners include Ford Motor's (NYS: F) Mustang II in 1974 and Toyota's (NYS: TM) Prius in 2004. The full list dates to 1949, when Motor Trend honored Cadillac's entire Motor Car division.
Motor Trendgushed about the Tesla Model S: "It drives like a sports car, eager and agile and instantly responsive. But it's also as smoothly effortless as a Rolls-Royce, can carry almost as much stuff as a Chevy Equinox, and is more efficient than a Toyota Prius. Oh, and it'll sashay up to the valet at a luxury hotel like a supermodel working a Paris catwalk."
In a Tesla press release, CEO and co-founder Elon Musk said: "Our aspiration with the Model S was to show that an electric car truly can be better than any gasoline car, which is a critical step toward the widespread adoption of sustainable transport." Musk's other attempts to boost widespread adoption of Tesla vehicles includes announcing plans for a national network of electric charging stations.
The article Tesla Model S Named "Motor Trend" Car of the Year originally appeared on Fool.com.Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team and the Motley Fool Supernova Odyssey I mission. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's web home, portfolio holdings and Foolish writings, or connect with him on Google+, Tumblr, or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.The Motley Fool owns shares of Ford Motor. Motley Fool newsletter services have recommended buying shares of Ford Motor and Tesla Motors. Motley Fool newsletter services have recommended creating a synthetic long position in Ford Motor. The Motley Fool has a disclosure policy.We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.