Tesla launches Amazon store to sell branded merchandise
Electric automaker Tesla is turning to Amazon to sell more branded merchandise, in an apparent effort to expand its reach to a wider population.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 320.72 | +9.54 | +3.07% |
| AMZN | AMAZON.COM INC. | 202.61 | -8.87 | -4.19% |
The automaker launched a new store on the e-commerce giant's site this week, offering customers a selection from a range of items including iPhone cases, sweatshirts and diecast model cars, as first reported by electric vehicle media outlet Elektrek. So far the offerings are limited, but Tesla has opened the doorway to expand those options and potentially reach more customers.
As the Elektrek report notes, Amazon already sells some accessories in the auto space – including tires, wipers and even charging stations – so the move could be a good one for Tesla. A spokesperson for the automaker declined to comment further to FOX Business on the offerings.
Prices range from $25 for a snapback hat to $250 for a model car.
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In its fourth quarter earnings, Tesla said 'services and other revenue' increased by 63 percent compared to the 3Q, boosted in part to merchandise sales.
Some of CEO Elon Musk’s merchandise has been a hit for his businesses – including a limited edition flamethrower produced by his tunnel digging venture, The Boring Company. While the items were priced at $500 for customers who purchased them through the company website last year (they sold out quickly), resale prices on eBay soared as high as $20,000 immediately after their release.
