Tesla Motors Inc (TSLA) is not the type of company that sits back and watches the industry fly on by. This is not the way CEO Elon Musk rolls. Not now, and probably not in the future.

It is this approach to innovation that has so many people excited about the future of the company. Investors included.

As we discussed yesterday, Tesla is not alone in the electric vehicle space. With TSLA stock up roughly 70% year to date, it goes without saying that the competition is not having any impact on the company’s stock price.

Used Car Revolution

Since Tesla is a relatively new automaker, people don’t often think about these vehicles making it to the used car market. However, this is something the company has a close eye on.

According to Automotive News, Tesla is in the process of creating a program to sell used Model S vehicles. This move has led to shock waves on Wall Street, pushing TSLA shares toward its 52-week high of $291.

Simon Sproule, the company’s vice president of communications, is not running away from this rumor. He said:

“With the Model S fleet now heading toward the first cars hitting three years old, we are looking at [certified preowned] and how best to structure.”

Benefits of a Used Car Program

For Tesla, the benefits of a used car program run deep. It gives the company the chance to reach a fresh group of consumers — those who are not willing or able to shell out for a new Tesla. And the used car business is more profitable than dealing in new vehicles. Those wider margins would be nice for Tesla’s bottom line

TSLA investors have every reason to be excited about this. Once the Tesla CPO program is rolled out, expect to see positive gains.

As of this writing, Chris Bibey did not hold a position in any of the aforementioned securities.