ALSET Auto Reports 58% Increase in Revenue

ALSET Auto, the nation's first Tesla after-market franchise, reported a fiscal year gross profit increase of 58 percent over the same period in 2020 for its Portland, Oregon corporate headquarters.

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ALSET Auto, the nation's first Tesla aftermarket franchise, reported a 58% increase in profit for year end 2021 over the previous year. The Portland, Oregon company was founded in 2018. (Photo: Business Wire)

The company, which offers a suite of in-demand services exclusively for Tesla models, increased total gross revenue in 2021 to $964,574. The company also reported a 62 percent increase in gross profit totaling $491,039.

“As a complimentary business to Tesla, ALSET Auto has seen exponential growth during the past three years,” said ALSET Auto CEO Philip Bunting. “We are poised to extend our upward trajectory as Tesla continues to smash quarterly delivery records.”

The company recently opened a second corporate location in Seattle, Wash, in addition to its existing franchises in Dallas, Texas and Scottsdale, Ariz. ALSET plans to expand the number of its franchise locations to 8 by the end of 2022.

"At ALSET Auto, Tesla owners can expect the highest level of quality, service and transparency,” said Dave Hood, CEO of iFranchise Group, a leading franchise consulting firm. “The ALSET Auto business model represents a radical departure from traditional paint-protection and aftermarket shops. Indeed, ALSET is uniquely positioned for rapid expansion in the years ahead as demand for electric vehicles in the U.S. grows exponentially.”

About ALSET Auto

ALSET Auto co-founders and Tesla enthusiasts Philip Bunting and Marcus Brown opened their first location in 2018 in Portland, Ore. The company provides Tesla owners with exclusive services and products such as paint protection film (PPF), ceramic coatings and window-tinting. Teslas have become one of the most paint-protected cars on the road, in part due to widely known quality issues and surveys that show owners intend to own their Teslas longer than owners of other cars. ALSET Auto offers transparent online pricing through its proprietary Interactive Protection Configurator tool, which enables customers to build, price and schedule their services in real time.

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