CEO of Tesla Motors Elon Musk finally revealed the Tesla Model 3, Tesla’s long-awaited “economic” car, on March 31. With the price ranging between $35,000 and $42,000, the Model 3 will cost almost 70 percent less than their previous car, the crossover Model X.
On the day of the launch alone, over 300,000 people had already preordered the car. By April 19, they had received over 400,000 reservations, more than twice the expected amount.
Why are so many people obsessed with this car? What makes it different from your average Prius? Why is it called the Model 3 if it’s their fourth car?
So many people preordered this more affordable Tesla that all the sales added together total over $14 billion, giving the Model 3 the biggest one-week product launch of any product ever. The car so popular because the Model 3 is Tesla’s first truly affordable car. $35,000 definitely isn’t the smallest price you could pay for a car, but it’s certainly not as much as Tesla’s previous $100,000 models.
The base model of the car starts at $35,000, but the average cost of the car is predicted to be around $42,000. When buying a Tesla, you get a $7,500 federal credit, which would bring the average cost of the vehicle down to the base price that it starts at. If someone is looking for an affordable, reliable electric car then the Model 3 is your car.
As much as some people enjoy the Prius, it is no match for the Tesla Model 3 in nearly any sense. The Prius is a hybrid, meaning you will still have to fill it with gas. The Model 3 is fully electric, meaning that you only have to charge it at home every night. The 2016 Prius only gets around 50 mpg, while the Model 3 can go over 200 miles on a single charge. The Prius may be $10,000 cheaper, but once you factor in the money you’ll be saving on gas, the Tesla is probably worth it.
The Model 3 is Tesla’s fourth car. They’ve had a sports car with the Roadster, a luxury sedan with the Model S, and an SUV with the Model X. So what should the name for the new car be? The newest car was originally supposed to be called the Model E. Elon Musk originally wanted the Tesla range to spell out S-E-X, but Ford had already trademarked “Model E”, so Tesla changed the name of the car to the “Model III” or “Model 3.”
If you want a good-looking, comfortable car that saves you loads of money on gas, the Model 3 might be for you. The car is still available for preorder right now, but you probably can’t expect a delivery until about 2018.