Tesla Motors Inc. (TSLA)’s battery-powered Model S sedan was named 2013 “Car of the Year” by Motor Trend magazine, a first for the maker of electric vehicles led by Elon Musk that’s working to accelerate production.
Tesla’s 2013 Model S, with a $57,400 base price, beat out competitors including Bayerische Motoren Werke AG (BMW)’s new 3-Series sedan, Ford Motor Co. (F)’s Fusion sedan,Honda Motor Co. (7267)’s revamped Accord and Toyota Motor Corp. (7203)’s 2013 Lexus GS, Motor Trend said today in a statement. The magazine said it’s the first time the award went to an electric vehicle.
“It is a testament not only to the luxury sedan and electric car segment, but to American engineering overall,” Edward Loh, editor-in-chief of Motor Trend, said in the statement. “To be the first car in the 64-year history of the award to be powered by something other than gasoline must mean it is very special.”