Elon Musk, on the recent earnings call, claimed that their conversion rate for test drives was 25%. Excerpt from the SeekingAlpha Transcript: Amy Carroll -

Elon Musk, on the recent earnings call, claimed that their conversion rate for test drives was 25%. Excerpt from the SeekingAlpha Transcript: Amy Carroll - JPMorgan The first question was just basically like when somebody comes to the door, how do your stores – like what you're converting in terms of like actual sales? [..] Elon Musk - Chairman, CEO, and Product Architect It's a low percentage conversion. I mean a lot of people in and educate them about Tesla and the brand. So that's our marketing strategy which is different from a typical car company. And so just a typical metric of conversion for traffic is not exactly applicable. I mean there's a lot of people that buy T-shirt. Our apparel sales are actually not bad. I think we could actually do a lot more on that front. We actually have millions of dollars in apparel sales, but we're not really trying hard. I think probably a better metric would be conversion after – of a qualified lead after a test drive. And we're seeing something like 25% conversion after a test drive which is quite high.