Available in 2017, 35,000 dollars and 0-60 in under 6 seconds, if I was looking for a new car I would seriously be tempted
More pics below
After ten years of waiting, Tesla has revealed the Model 3, the vehicle that CEO Elon Musk hopes will take the electric car to the masses.
At the unveiling of the Model 3 this evening at the company's design studio in Hawthorne, California, Tesla CEO Elon Musk said the car will deliver at least 215 miles of range beginning at just $35,000 — that's a bold claim, and an important one for Tesla to meet. Musk is "fairly confident" that deliveries will begin by the end of 2017, and "you will not be able to buy a better car for $35,000, even with no options." And it will be one of the safest cars in the world, according to Musk.
Seems Musk way underestimated the response
It won't shock you to hear that Tesla low-balled demand for the Model 3, but by how much? Er... quite a bit, actually. Elon Musk has revealed that his company expected "1/4 to 1/2" of the pre-orders it got (252,000 worldwide as of this writing) for its first semi-affordable electric car.
While he'd expected lineups at Tesla stores, he figured that there would be "maybe 20-30 people" in queue at a given shop -- not the hundreds that showed up at some places. As a token of appreciation, Tesla plans to give those in-person customers an extra reward on top of what every pre-order customer will get.
There's no doubt that Tesla is delighted with the interest, but the data also raises a few questions. How long will it take for Tesla to fulfill all those extra orders? And will demand keep up when the US' $7,500 EV tax credit (which only applies to the first 200,000 qualifying cars from a brand) starts phasing out? As much as Tesla will likely enjoy having this problem, it won't be so hot if it means that drivers wait months longer and pay more.
over 276,000, wonder how many are going to back out when they find out they can not get the tax credit
holy crap 325,000 now, the biggest one week launch of a product ever, wonder how long that will take to make all the those
Tesla announced Thursday that it has received 325,000 preorders for its recently unveiled Model 3. If it sells every car that's been reserved, the company says it will earn enough revenue to make this the "biggest one-week launch of any product ever." A few days ago, the electric car company was saying it had received twice the number of preorders it originally expected to get. Now it's quickly approaching three times that number, which raises questions about the company's ability to meet its increasingly complex production goals.
looks like the tax credit may be a concern for some
Lots of Tesla buyers are banking on fat tax credits to make the Model 3 even more affordable. But they shouldn't.
Anyone who buys a plug-in car in the U.S. today is eligible for a federal tax credit of up to $7,500. That's more than 20% of the Model 3's $35,000 starting price.
But that tax credit won't last forever -- in fact, it's only good on the first 200,000 U.S. cars that any manufacturer sells.
And it looks like the tax credit could start phasing out for Tesla buyers just as it ramps up production of Model 3's in early 2018.
That could put a huge dent in demand said Karl Brauer, senior analyst with Kelley Blue Book. More than 40% of car buyers interested in a Model 3 told a KBB survey that they wouldn't buy a one without the tax credit.
"You've got people counting on the tax credit and they'll be frustrated when they discover it's gone," Brauer said.
A Tesla spokeswoman said the company won't speculate on when the tax credit will run out for its buyers.
This may be the answer for the tax credit
Tesla Motors may take a creative approach to address concerns Model 3 buyers have about the federal tax credit disappearing.
While the $7,500 federal tax credit on the Model 3 would potentially bring the $35,000 starting price down to an effective $27,500, it is on course to be phasing out by the time these electric cars show up for delivery starting as soon as late 2017.
This is because Tesla will likely be reaching the federal tax cap of 200,000 cars through its Model S and Model X deliveries by the time the Model 3 is ready to roll out.
Tesla owners have been concerned enough about the disappearing incentive to question Tesla CEO Elon Musk on his Twitter page – and to suggest a solution.
A few Tesla customers and analysts have noticed a bit of a loophole in the IRS rules for the credit, The $7,500 credit isn’t cut until the end of the quarter after the one in which a company hits its limit of 200,000 cars delivered in the U.S. Tesla could extend that time period by reaching the limit on the first day of a quarter then deliver Model 3s over the next six months before the credit begins to disappear.
Tesla may be willing to support this solution, Musk tweeted.
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