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Tesla Model 3 named ‘best electric car’ by Edmunds

Honda Accord, Dodge Ram win their categories

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By Claudia Assis, MarketWatch


Reuters

Tesla Inc.’s Model 3 won Edmunds.com’s best electric vehicle category, with the car shopping website and industry consultant saying that, for its price, no other electric vehicle “comes close to matching” its appeal.

Edmunds said its editors selected the 2019 top vehicles based on “extensive” vehicle testing and from a group of finalists that included the highest-ranking vehicles within each category. The winners “represent the very best new vehicles on the road today,” Edmunds said on Wednesday.

Related: Chevrolet brings back the Trailblazer, take a look

The title of best sedan went to Honda Motor Co. Ltd.’s /zigman2/quotes/207173990/composite HMC -0.68%  Accord, and best SUV to the Kia Motors Corp.’s /zigman2/quotes/206019389/delayed KR:000270 0.00%  Telluride. The top rated pickup truck was the Fiat Chrysler Automobiles’ /zigman2/quotes/204248628/composite FCAU -0.73%  Ram 1500, while General Motors Co.’s /zigman2/quotes/205226835/composite GM -1.71%  Chevrolet Corvette won best sports car.

See also: Tesla unveils its Cybertruck: An angular electric pickup starting at $39,900

While new vehicles tend to get attention, “newer doesn’t always equal better,” Alistair Weaver, editor in chief at Edmunds, said in a statement.

Tesla’s /zigman2/quotes/203558040/composite TSLA +7.19%  Model 3 and the Silicon Valley car maker’s luxury sedan offering, the Model S, regained key reliability recommendations from Consumer Reports last month.

For the Model 3, there were fewer complaints about stuck latches or malfunctioning doors, and the Model S had fewer reported issues with paint and trim quality, Consumer Reports said then.

Also last month, Tesla made waves when it unveiled its “Cybertruck,” an angular, futuristic pickup truck that boasted a starting price under $40,000.

Tesla Chief Executive Elon Musk has said that Tesla has about 250,000 deposits for the Cybertruck, and analysts at Morgan Stanley recently said they expect that roughly 40% of those deposits would turn into sales.

The analysts called that an “optimistic assumption” given that Cybertruck preorders require a $100 refundable deposit.

Tesla shares have gained 7% this year, compared with gains of 25% and 19% for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.27%  and the Dow Jones Industrial Average. /zigman2/quotes/210598065/realtime DJIA -0.52%  

/zigman2/quotes/207173990/composite
US : U.S.: NYSE
$ 27.59
-0.19 -0.68%
Volume: 533,165
Jan. 21, 2020 4:10p
P/E Ratio
10.17
Dividend Yield
3.18%
Market Cap
$48.88 billion
Rev. per Employee
$661,808
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/zigman2/quotes/206019389/delayed
KR : S. Korea: KRX
41,600.00
0.00 0.00%
Volume: 567,421
Jan. 21, 2020 3:30p
P/E Ratio
10.59
Dividend Yield
2.16%
Market Cap
₩16678.70 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204248628/composite
US : U.S.: NYSE
$ 13.65
-0.10 -0.73%
Volume: 3.93M
Jan. 21, 2020 4:10p
P/E Ratio
7.36
Dividend Yield
N/A
Market Cap
$21.55 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 34.99
-0.61 -1.71%
Volume: 10.38M
Jan. 21, 2020 4:10p
P/E Ratio
5.70
Dividend Yield
4.34%
Market Cap
$50.86 billion
Rev. per Employee
$849,994
loading...
/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 547.20
+36.70 +7.19%
Volume: 17.44M
Jan. 21, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$92.02 billion
Rev. per Employee
$439,627
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,320.79
-8.83 -0.27%
Volume: 2.14B
Jan. 21, 2020 4:20p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,196.04
-152.06 -0.52%
Volume: 316.14M
Jan. 21, 2020 4:20p
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Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW.

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