No batteries included — or needed — in this Tesla

Hot Wheels toy sells for less than $2, compared to $122K for the real Model S

NEW YORK— Mattel Inc., the world’s largest toymaker, has begun selling a miniature version of a Tesla Motors Inc. Model S as part of its Hot Wheels brand. It isn’t just for children: Plenty of adults are expected to line up for the toy.

The toy car retails for $1.33 compared to about $122,090 for a fully loaded all-wheel-drive Model S P85D.

The Hot Wheels version of Tesla’s first car, the Roadster, is now a collectors’ item that can sell for $37 to $61. Investment potential aside, the diecast models help introduce America’s smallest and youngest publicly traded automaker to a generation of future car buyers.

“Tesla is a brand that resonates across a range of consumers, from collectors to kids,” Chris Down, Hot Wheels senior vice-president and general manager, said in an interview. “Everyone relates to the vehicles.”

Mattel will take any sales boost it can get. The world’s largest toymaker is in turnaround mode after declining revenue and a sagging stock price led to the dismissal of chief executive officer Bryan Stockton in January. He was then replaced by long-time board member Christopher Sinclair.

Of the company’s major brands, Hot Wheels has been the only one growing. While sales of Barbie products, its largest business, tumbled 16 per cent, Hot Wheels revenue rose 3 per cent last year.

Mattel, based in El Segundo, Calif., also owns Matchbox, which is also offering a version of the Model S. Much like General Motors Co. has its mainstream Chevrolet brand and luxury Cadillac brands, Matchbox is seen as Mattel’s utility line, while Hot Wheels is all about pushing the limits of design and customization, Down said.

Mattel worked closely with designers from Tesla to co-develop the 1/64th scale Model S, which currently comes in two colours — silver and red — and is based on the P85D, Tesla’s top-of-the-line, dual-motor performance version, complete with red-lined rims.