Cars.com Analyst On 153% Increase In Tesla Model S Registrations In October: 'I Wouldn't Read Too Much Into These High Percentage Changes'

When asked about the 153 percent year-over-year increase in Tesla Motors Inc (NASDAQ: TSLA) registrations for the month of October, Cars.com Chief Analyst Jesse Toprak told Benzinga that he wouldn’t read too much into high percentage changes.

“Year-over-year comparisons for Tesla can show erratic changes as the sales volume for this automaker is still relatively low,” he said.

Toprak also pointed out that although historical data show there is a high degree of correlation between gas prices and electric vehicle sales, Tesla is partially immune to that phenomenon.

“At their price point, the majority of their customers are buying the Model S for its technology and design as an early adopter and not to save a couple hundred dollars in gas each month,” he said.