Tesla (TSLA) Looks to Retain Customers with New Roadster Buyback Program

Tesla Motors (Nasdaq: TSLA) shares are a bit lower Thursday, down roughly 2 percent, following news that the company has commenced a Roadster buyback program.

Under the system, Tesla will repurchase Roadsters from owners who want to upgrade to Tesla's new Model S. Originally retailing for over $100,000, the used version will still go for over $75,000, according to SFGate.com. A well-kept, low-mileage 2010 edition might cost about $93,000, for example, while a 2008 model with 31,000 miles might fetch just $73,000. (Note: It feels kind of weird placing the word "just" in front of the price "$73,000.")

So, you have a beneficial situation doubling: those who can afford a new Model S will now be even more intrigued, while potential customers on the sidelines looking for a cheaper entry point might now consider a used Roadster.

Only about 2,500 Roadster models were ever produced since production began in 2008.

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