Tesla to announce the Model 3 on March 31, with delivery slated for late 2017

By Scorpus ยท 10 replies
Feb 11, 2016
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  1. It won't be too long before we hear the first details of Tesla's upcoming, more affordable electric car, the Model 3. CEO Elon Musk plans on unveiling the vehicle on March 31st, 2016, with production and delivery of the first cars still slated for late 2017.

    The Model 3 is particularly important for Tesla as it's expected to hit a price point around $35,000, making it much more affordable than the company's luxury models such as the Model S. Musk says that Model 3 will be cheaper as it's less complex to manufacture and around 20 percent lighter than the Model S. "Economies of scale" have also helped the company reduce manufacturing costs overall.

    It's not clear how much of the Model 3 will be shown off next month; Musk has stated that they're still deciding on the specifics of the announcement. Hopefully it will include a full reveal of the car, inside and out.

    As for the company's financial results, Tesla made a loss of $320 million for the fourth quarter of 2015 on the back of $1.21 billion in revenue, citing difficulties in meeting demand for their SUV, the Model X. Tesla only managed to ship 206 Model Xs in the quarter, compared to 17,478 vehicles overall.

    Tesla expects to be profitable again by the fourth quarter of 2016, which could have contributed to a nine percent rise in their share price during after hours trading. The company also expects to deliver around 80,000 to 90,000 Model S and Model X cars in 2016.

    Permalink to story.

  2. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 8,647   +3,274

    $35000? That's still $36000 more than I'd like to pay... but for a Tesla? I suppose you could do worse for that kind of money.
  3. Now remember guy's and girls don't say anything bad about Musk or Tesla events or Tesla.

    Try and say something good and show Musk,he might give you a discount.
    H3llion and wiyosaya like this.
  4. MilwaukeeMike

    MilwaukeeMike TS Evangelist Posts: 2,889   +1,223

    Actually they're saying it'll be about $25,000 after all the rebates and incentives you can get because it's electric. Those incentives will only be available until Tesla sells 200,000 cars though, so only the first buyers will get it. And yes, you could do worse. The owners of Tesla love them. Maybe that's because they refuse to admit they spent $80,000 on something that turned out to be 'meh', but I doubt it. :)

    Yes, their stock went up 10% (which is huge), but it was at $145/share. it was $230 a month ago and $280 last summer. Dirt cheap gasoline, china's slowing growth prospects, china's devaluing yuan, and the market going down in general has created a perfect storm for Tesla (and a bunch of other stocks) to free fall. However, if you've got the stomach for a volatile market, now might be the best time in years to buy Tesla. Or Netflix... check out Netflix :)[/quote]
  5. captaincranky

    captaincranky TechSpot Addict Posts: 12,974   +2,527

    Based on the way I speak & feel about him, trust me, that DB won't be selling me so much as a hubcap anytime soon.......:mad:
    Try this on for "size".
    Tesla only sold 50,000 in the entirety of last year. So unless there's a "big run on the Tesla dealers", you're probably safe for a couple of months anyway.
  6. JBone99

    JBone99 TS Rookie

    At this price point, if this vehicle offers decent range between changes it could be game changer for all future car sales.
  7. captaincranky

    captaincranky TechSpot Addict Posts: 12,974   +2,527

    Or a mandate / challenge for "the big three" to get their s**es in high gear with their own electrics. (And lest we forget Honda and Toyota as well).

    Tesla is associated with electrics because that's all Elon Musk knows how to talk about. If he knew how to use electricity to power a rocket booster, trust me, we'd never hear the end of it.

    I think it's worth mentioning that GM sold 9,000,000+ vehicles last year, and Tesla/Musk 50,000. I think that comes out to 1/36th as many. If we add in the sales of the other makers I mentioned and do the math, you'd see how irrelevant Musk really is.
  8. MilwaukeeMike

    MilwaukeeMike TS Evangelist Posts: 2,889   +1,223

    Yes, 50,000 last year, and how many the year before? And the Model 3 won't be out until 2018, so that's 2 more years of selling, and their sales increase every month. There has been a big run on Tesla (they don't use dealers) - they've sold like 30,000 Model X SUVs that they haven't even built yet.

    Tesla is associated with electrics because Nikola Tesla knew more about electricity than the rest of the world put together - he invented Alternating Current, which is how we have electricity in our homes.

    Tesla is irrelevant in terms of sales, but they're not irrelevant in terms of moving the industry forward. They're the first ones to make an electric car that people actually wanted to drive - not just own for environmental cred.
  9. captaincranky

    captaincranky TechSpot Addict Posts: 12,974   +2,527

    Most of what Tesla "sells", hasn't been built yet. In effect, Tesla's "buyers" are fronting Musk the money to "build them".

    Perhaps so, but the unfortunately named NYC power supplier, "Consolidated Edison", is a further slap in Nicolai Tesla's face. :oops: Edison invented the light bulb, a very "bright idea". (But no, Henry Ford didn't invent the automobile, (IIRC), should that topic come up).

    Besides, batteries supply DC current anyway. So then why are Teslas called "Tesla", if not simply to capitalize on Nicolai Tesla's name? (Granted a common industry practice). Still Ford's are named after Henry Ford and so forth. That said, you'd couldn't call a Tesla a "Musk", as nobody in their right mind would give a..... (well, you get the idea).

    And you can have your "Model 3" in a year or so, (maybe), if you cut Musk a check today. (We have orders for Model X,Y, Z we won't be able to fill for years, Elon Musk).

    FWIW, you could walk into a dealership and pick up a Chevy "Volt", and drive home with it today

    I figure Tesla Motors will become quite irrelevant, as soon as the major manufacturers decide to make it so. Who knows, maybe they'll capitalize on Musk's name by calling one model a, "Muskero", or perhaps a, "Musk-Stang"....:p:cool:
    Last edited: Feb 12, 2016
    MilwaukeeMike likes this.
  10. MilwaukeeMike

    MilwaukeeMike TS Evangelist Posts: 2,889   +1,223

    More fun facts... they wont' have a Model Y or Z. They tried for a model E to make their three models teh S, E and X, but Ford outbid them or something on the trademark, so now it's S3X instead. :)

    None of which are nearly as good as a Muskero though, lol.
    captaincranky likes this.
  11. Phr3d

    Phr3d TS Guru Posts: 404   +84

    ahhh now, Krank.. GM execs have stated, not least of which is Lutz, that if a tiny Cali firm can build and sell an electric roadster (decent reviews) "there's no reason that we can't", and Musk had to know a Little bit to get the millions he plunked down on a teeny, tiny car company.
    Hondey & Toyerta are in FuelCell-EV-land as hydrogen was deemed job 1 by the emporer, errr.. the guv'm't, no worries there (Hondey is apparently gonna buy Volts and re-badge 'em).

    RE irrelevancy, it's a matter of viewpoint, ALL super-lux cars of ~$100k are irrelevant per total cars sold, but they SHER DEW fund a lot o' stuff that we take for granted later (ABS, anyone?)

    but, yeah, I'm a bit worn out from Cal-yperbole, so I see your position..

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