It has finally happened; the long-awaited release of the Tesla Model 3 has taken place in a way that was a bit anticlimactic for the public. The first 30 models were delivered at the end of July but these models were all delivered to employees, which meant the party was more of a private affair. Even though this was the first run of deliveries, it shows that Tesla has completed the task of building the Model 3 and delivering it but there is certainly more work to be done by this company that wants to be able to produce a large number each year.
Tesla’s CEO, Elon Musk, admits there are supply issues and production complexities that will face this car as the company works to ramp up their overall production to 500,000 cars next year. To date, the company has never built more than 100,000 cars in a year, which makes the task of getting to this number a monumental one. The next six months of manufacturing are expected to be brutal for the company but the movement forward will begin to fill the over 400,000 orders that already await what Tesla has to offer.
What Does the Model 3 Offer?
The main draw for this car is the fact that it’s priced much lower than the other models from Tesla. This company has occupied the luxury EV space for a few years with the Model S and then the Model X but the Model 3 is a car that everyone can afford and drive. The starting price before any tax credits is $35,000. At this price the Model 3 is good for a range of 220 miles and is sold at the most basic level with black exterior paint, which is the only standard color offered.
Those that want to upgrade the Model 3 to have a different color and more range, as well as the Autopilot system. can do so. The range can be increased to 310 miles, other colors will cost an additional $1,000 and the fully loaded model of the Model 3 could cost as much as $59,500. This is a large price increase and certainly worth consideration since most of the Model 3 cars that will be sold won’t be eligible for the $7,500 Federal Tax Credit because the credit phases out after 200,000 cars are sold and Tesla has already sold more than 126,000 vehicles.
Even though there might be more reasons to think Tesla will fail with this car than be successful, many of the Tesla fans are keeping the faith. In the past, it hasn’t been unheard of for Tesla customers to wait a long time for their vehicle, but this is the first time a car has been built for the masses. Tesla is hoping to capture the fans it has and deliver to all customers starting on the West Coast with overseas deliveries beginning in 2018 and the right-hand drive models starting in 2019. If you’ve put in your deposit for a Model 3, you will have to be patient in order to receive your car, but Tesla is confident all orders will be filled.
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