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Tesla electric car becoming a must-buy for the wealthy

Not surprisingly, the Tesla Model S battery-electric car that sells for more than $100,000 has become a must-buy for the affluent motoring set.

Data tracking service Edmunds reports that the Model S is now the most-registered new car in eight of the nation’s 25 wealthiest neighborhoods tracked by zip code.

The bulk of those communities are in California and it appears that the Tesla battery car has become the latest status symbol among the state’s rich trend-setters. It is a more fitting green fashion statement than the more plebian Toyota Prius that gained fame a few years back when actor Leonardo DiCaprio arrived in one for the Academy Awards ceremony.

“Influential people set trends while the mainstream aspires to follow,” writes Edmunds analyst Jessica Caldwell. “With the proclivity of tech geek being chic, the Silicon Valley area will set trends faster than traditional high-income markets like New York.”

In Atherton, California, outside San Francisco, where the average home goes for $6.7 million, the Tesla Model S now commands a 15-percent share of new vehicle registrations. In nearby Los Altos Hills, it’s 11 percent.


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