Anybody looking to get their hands behind the wheel of a Telsa but have so far been put off by the £60k price tag received some welcome news in the latest shareholder letter by Tesla Motors – the Tesla Model 3 will shortly be zooming into view.
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Musk said that, being a sedan, the Model 3 will be less complex to build than the Model X (and those falcon wings). It also expects to achieve an adjusted full-year profit despite a planned investment of $1.5 billion in additional production capacity in Fremont and new cell production at its battery factory in Nevada.
Musk was quick to turn attention to the future and claim Tesla will double vehicle deliveries in 2016 to nearly 200,000, with the company pushing Model X production up to 1000 per week by the second quarter.
The firm has been hit by various factors, including a slump in the oil price, potentially making conventional gasoline (or petrol) cheaper, along with general malaise in the global outlook.
Tesla’s Model 3 is expected to cost around $35,000, excluding any potential electric vehicle tax credits, putting it at a sweet spot in the luxury electric vehicle market.
By now, you may have heard that Tesla’s entry-level vehicle, the $35,000 Model 3, will have its worldwide debut next month. Ben Kallo, an analyst with Robert W. Baird & Co, said that the Model 3 time line of late 2017 is vital. “I’m not sure Tesla will make a auto like this again”.
The Model 3 will be the third major vehicle in Tesla’s fleet. That works out to be $2.44 per share. Tesla’s main vehicle is the Model S sedan.
Additionally, revenue rose to $1.21 billion, a 27 percent increase. The company sold had sold 107,000 cars globally at the end of previous year, with the Model S outselling the Audi A7 and A8 combined, and the BMW 6 Series and 7 Series combined, in Europe, the company said. This was above Wall Street estimates.
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Production: Tesla said Wednesday that it would deliver 80,000 to 90,000 vehicles this year.
