Greenwich: For Tesla, it's Where the Money is

(MoneyWatch)  GREENWICH--According to New York magazine, by 2007 some 40 percent of the world's 351 hedge funds with more than $1 billion in assets were located either in the Upper East Side of Manhattan or Greenwich, Connecticut (which the magazine calls "Lower Hedgistan"). Sure, some of those funds have taken big hits, but Greenwich (whose showplace, Round Hill Road, is one of the most dazzling displays of conspicuous wealth in America) is still where the money is.

The base price for the all-electric Tesla Roadster, which can reach 60 mph from a standing start in 3.9 seconds, is $109,000. Is it all that surprising, then, that when Tesla started an East Coast sales operation, it chose Greenwich as one of its prime targets?

Joe Powers, the young sales manager for Tesla's northeast region, parked himself and a bright red roadster at the Greenwich Hyatt Regency this week and began giving test drives to would-be owners with the hotel's parking lot as a base. Some 200 of the cars have sold so far, and these kinds of tactics seem to be working.

"I've already got a handful of orders here," said Powers, who was outfitted in Tesla-branded men's wear. The company is now producing 20 Teslas per week. There are 1,200 people on the waiting list, and a 10- to 12-month wait to take delivery. "By this time next year there should be five to 10 Tesla Roadsters on area roads," said Powers.

Tesla says it will be profitable by the middle of the year. It also has plans to open sales offices in Munich, Seattle and, why not, Miami.

Remy Chevalier photo.