This past Thursday, Tesla announced its latest model: the Model Y. The Model Y is an SUV that will be marketed towards the masses with a price point of $39,000. Tesla already has an SUV in its product line, the Model X. While the Model X goes for $100,000 and would be considered a high-end SUV, the Model Y will have a much more modest price and will compete against SUVs such as the Rav4, Honda CRV, and Subaru Forester. This model will add much needed variety to the options of electric vehicles which are generally limited to sedans. Elon Musk believes that the Model Y will be immensely successful and stated, “The demand for Model Y will be maybe 50% higher than Model 3 — could be even double.” If this statement were to become reality, it would be extremely impressive considering the high demand for the Model 3. When Tesla announced the Model 3, the hype around the company exploded as people became excited with the thought of being able to afford a vehicle from Tesla. This announcement could be a much needed boost for the company as its stock has been down 10% since February 5th.
After hearing about this story, I would consider this to be exciting news. Tesla has always been a company that has interested me because of its innovative products. To me, a Tesla is just as much a piece of tech as it is a car. Additionally, I believe that the electric vehicle market needs more options so that the prices of these vehicles can go down and so that there is more choice for the consumer. With more choices and cheaper prices, people will be more willing to purchase electric vehicles- a step towards decreasing the amount of harm we do to our environment. Overall, I can see Tesla becoming one of the biggest car brands in the United States. They offer an extremely quality product and they are starting to sell at price points that are affordable for the mainstream. I remember when it was extremely rare to see a Tesla on the road. Nowadays, it is quite often that I see one. Hopefully, competitors will continue to develop electric vehicles to compete with Tesla to promote further innovation and lower prices.
What do you think, do you find this to be exciting news? will Tesla become one of the biggest car companies? Would you consider owning a Tesla a dream of yours?