February 11, 2016
I know that there are Tesla fanatics reading this, so they may have already circled March 31, 2016 on their calendars. That’s the day when Elon Musk (pictured, natch) will unveil the Model 3 and take pre-orders on the electric vehicle that Musk hopes will make the brand mainstream. While we still don’t know what the Model 3 will look like, Tesla did confirm suspicions about its cost. The MSRP on the Model 3 is $35,000 before incentives, although electric vehicle tax credits may depress that price somewhat. According to calculations from Bloomberg, state and federal incentives can make the total cost of the Model 3 closer to $25,000. Customers wishing to reserve their Model 3 vehicles will need to plunk down a $1,000 deposit—a drop in the bucket for Tesla’s typical clientele and fairly affordable for most car buyers. The perception of Tesla among auto industry insiders and consumers is that its cars are exorbitantly expensive. Of course, that perception has a boulder-sized kernel of truth: for instance, the Model X is so uber-exclusive that you have to be the Fresh Prince’s son to afford it. With the Model 3, however, Tesla is aiming for the mainstream car buyer in the market for an affordable electric vehicle. But to hear Musk tell it, Tesla has always kept the interests (and bank accounts) of the everyday consumer in mind. “Our goal from the beginning has been to drive forward the electric car revolution, and we needed time to refine the technology—get to version two, get to version three,” Musk told NPR in a 2012 interview. “And really, with version three—the $30,000 car—that's where it becomes mass market.” It took Tesla about four years to reach the affordability point, and it may take several more years until its vehicles are as affordable as, say, a Honda Civic. But if the Model 3 can be had for around $25K, then its cost would be below the national auto average of $31,000 (as per Bloomberg). Tesla has set a goal of shipping a half-million Model 3 cars by decade’s end. You’re still gonna have to wait even if you secure your Tesla Model 3 on the day it’s available for pre-order, as it isn’t slated to go into production until 2017. In the meantime, let us know if you’re planning on purchasing one so I start befriending you immediately. Image Credit: Yahoo Tech