-May 19,2022-
Tesla will build a new 31,000 square foot car dealership on Calle Joaquin in San Luis Obispo, a project given the green light by the city Architectural Review Commission this week.
The dealership that would face Highway 101, is being proposed by San Pedro-based Rich Development on 2.8 acres of vacant land. The site, at 1381 Calle Joaquin, is near the new Town Place Suites by Marriott hotel that recently opened and in-line with two other dealerships just north Los Osos Valley Road.
Today the closest Tesla dealership is in Santa Barbara.The top selling electric car maker would offer their line of cars to the San Luis Obispo market that has been beset by some of the highest prices in the state.Today SLO County’s ’s average price for fuel is at a Southern California high of $6.25 a gallon, according to AAA.
Tesla is now one of the world’s most valuable companies as well as the most valuable automaker with a market capitalization above $900 billion. The company has a market high lead of 23% of the battery-electric (purely electric) market and 16% of the plug-in market (which includes plug-in hybrids) in 2020.
The company’s name honors inventor and electrical engineer Nikola Tesla. In 2004, as a result of a $6.5 million investment, Elon Musk became the largest shareholder. Musk has been CEO since 2008.The first model rolled off the line in 2008.
Today Tesla’s sales revenue has been growing at a rapid pace with $16.9 billion in sales in the first quarter of this year – an 87 percent increase year over year. But unlike most car makers, Tesla has not spread their brick and mortar dealerships beyond major cities. For example, there are none in the Central Valley. A Tesla dealership here is likely to spur local and regional sales, a boost for city sales tax revenue.