Tesla Launches Affordable Model 3 & Y to Boost Sales
Tesla has rolled out more affordable versions of its Model 3 and Model Y electric vehicles, aiming to stimulate sales after a dip in deliveries last year. The move is expected to boost annual car deliveries, with analysts projecting a rebound to 1.85 million units by 2026.
The new, cheaper 'Standard' versions of the Model 3 and Model Y are set to arrive in Europe soon, although final prices have not been officially announced. Currently, the Model 3 starts at 39,990 euros in Germany, and the Model Y at 44,990 euros. These prices are lower than the 'Premium' versions of the same models. Production of these affordable EVs began in June, following the expiration of the $7,500 federal tax credit for EV purchases in the U.S. The base versions of the Model Y and Model 3 are now priced at $36,990 and $39,990 respectively.
Analysts predict that around 155,610 units of these affordable models will be sold in 2023, contributing to an annual delivery projection of 1.62 million vehicles. This is expected to rally to 1.85 million units by 2026.
Tesla's introduction of more affordable electric vehicles is seen as a strategic move to boost consumer sales and deliveries. With the new, cheaper 'Standard' versions of the Model 3 and Model Y, Tesla aims to make its electric vehicles more accessible to a wider range of customers.
