XPEL, Inc. (XPEL) Responds to Blog Publication Regarding Tesla's New Film Protection Offerings
Yesterday, a blog post was published stating that Tesla (NASDAQ: TSLA) has started offering color and clear paint protection film wraps in two of their Service Centers in California. Subsequently, XPEL, Inc. (NASDAQ: XPEL) has had numerous investor inquiries regarding the contents of this blog post and the impact, if any, to XPEL. While we are not involved in this particular program, we are currently in discussions with multiple OEM’s about adding new or expanding existing programs for XPEL products on their vehicle platforms. We continue to believe that OEM involvement in paint protection film grows awareness about the product category and expands the market opportunity.
XPEL’s paint protection film-related revenue (including product and service) with respect to Tesla vehicles is approximately 5% of its total year to date revenues.