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  • Tesla Cuts Prices Across Product Range

    Tesla Cuts Prices Across Product Range

    Tesla, the fan-favorite controversial electric carmaker, has cut prices across their entire product range as the tax credits on their vehicles fades towards the end of 2019. Previously, before 2019 started, Tesla customers in the US could get a $7,500 tax credit. From January 1st on that credit declined to $3,750, and it’s now only $1,875; it’ll be gone altogether by the end of the year.

    In response to these tax credits vanishing, Tesla is doing its part to try to keep their luxury electric cars attractive to prospective buyers. These changes also include a few product shuffles of trim levels among the higher end of the range. Are the price cuts enough to keep the cars competitive in the market, or does this mark the end of an era for Tesla?

    Lineup Changes

    Starting on Monday, Tesla pulled the Standard Range versions of the Models S and X, leaving only the more expensive Long Range and Performance versions. At the same time, the Long Range Model S dropped down to $79,990 from $85,000. For comparison, the Standard Range Model S was $75,000.

    Oddly, the price of the Model S Performance trim went up to $99,990, where it was previously only $96,000. That said, the Ludicrous mode option is now standard, while it used to be a $20,000 upcharge. The Ludicrous Mode lives up to its name, offering absurd acceleration and speeds.

    Price Cuts

    As for the more affordable Model 3, it’s now seen price cuts across its entire range. Previously, the $35,000 Stander Range Model 3, long promised by Musk, was pulled in favor of the Standard Range Plus. The Standard Range Plus started out at $39,500, though it’s now been reduced to $38,990.

    On the higher end, the Long Range Model 3, which allows for significantly more range, is now down to $47,990, a solid $1,500 cheaper than its previous price of $49,500. The highest trim level of the Model 3, the Performance Model, received the steepest price cut, dropping all the way from $59,500 to $54,990. That’s nearly $5,000 off of one of the best cars on the market!

    Clearer Product Lineup

    This does a few great things for Tesla. Namely, it cleans up the product line dramatically. Previously, there was little distinction between the high end Model 3s and entry-level Model Ss. Now, instead of being a bit more muddied, it’s clear that there’s a distinction between the two vehicles. The high-end Performance Model 3 comes in at $54,990, while the low-end Long Range Model S starts way above that, at $79,990.

    Previously, it was entirely possible to outfit a Performance Model 3 with so many options that it was nearly as expensive as the entry-level Standard Range Model S. Now, it’s significantly more clear that there’s a hard distinction between the two products.

    How Important is This?

    It’s worth noting that this just means that the Model 3’s Standard Range Plus and Long Range options are overall more expensive than when the full tax credit was still available. These price drops do little to make the vehicles more affordable to people who were already unable to afford a Tesla.

    That said, if you’re the kind of person who was already looking into getting a Tesla, but waiting on notable price cuts now’s your time to consider it more seriously. The inclusion of Ludicrous Mode on the Performance Model S for only $99,990 makes it one of the best deals on the absurdly-powerful Tesla. Likewise, anyone interested in the Performance Model 3 should consider picking one up now that they’re only $54,990, a solid $5,000 less than they were a week ago. That’s a hard deal to pass up if you’re in the market!


  • Tesla Model S, Model 3 Post Results in Tire Rack One Lap of America

    Tesla Model S, Model 3 Post Results in Tire Rack One Lap of America

    It’s no secret that Tesla’s electric vehicles have some ludicrous performance. Whether they’re being compared to other electric vehicles or conventional cars, Tesla’s vehicles can seriously burn some rubber. That was put to the test at this year’s Tire Rack One Lap of America, one of the most notorious street races in the world.

    Tesla Model S, Model 3 Posting Big Results

    The One Lap

    The Tire Rack One Lap of America, better known as the One Lap, is a direct offshoot of the legendary Cannonball Run. Cannonball Run itself was an infamous outlaw street race that started in New York and ended in LA. The modern One Lap race is much more, ahem, legal, than its predecessor, but it is no less grueling.

    One Lap consists of no less than 3,500 miles of transit and endurance-testing tracks all across the country. In short, both driver and car better be made of some stern stuff to tough out the One Lap street race.

    The Standings

    Impressively, the Model S and Model 3 teams not only both completed the race, they posted serious results. In fact, the Model 3 landed the top spot among the Alternative Fuel class and second place in the Stock Touring class. Overall, the Model 3 team finished 17th out of 77 entrants in the One Lap race.

    The Model S also posted impressive results, though it was somewhat hindered by its own battery overheating while on the track. Unlike the Model 3, which offers a Track Mode and has great thermal management, the Model S was consistently having its battery overheat and offering less power for the team to pull from.

    What This Means

    While it could be some time yet before electric cars are posting huge wins in every category, this is impressive for a pair of cars from a relatively new automaker. Perhaps in ten years an electric performance vehicle will bring home the trophy in the One Lap street race!

  • Tesla Production for Model 3 Triples in Second Quarter

    Tesla Production for Model 3 Triples in Second Quarter

    After some recent controversy, a lawsuit against a saboteur and some unpopular layoffs, Tesla has some good news. After releasing the production numbers for the second quarter of 2018, the company has seen a three percent uptick in stock prices. It seems they kept their self-set goal of ending July producing more than 5000 Model 3’s per week. This is good news for the company as it seeks to fulfill the record-breaking orders for Model 3’s. This uptick in Tesla production indicates the potential for a profitable third quarter, a rare sight for the ambitious automaker. 

    Tesla’s Profit Loop 

    Tesla doesn’t often turn a profit. This is an odd piece of trivia for a company this big and this ambitious, and it is especially disappointing when one considers the recent layoffs. That said, this uptick in Tesla production does bode well for the company’s bottom line. The question is, will the company follow its typical loop that it follows after a profitable quarter? The few times Tesla has turned a profit in the past, it has immediately funneled that cash into production of a new vehicle.  

    When the Model S, and later the Model X, began to turn profits, production on the next vehicle would rapidly devour those profits. This is consistent with a company that aims to radically change the face of transportation, but it’s frustrating for investors and enthusiasts alike. 

    Tesla Production of Model 3’s Could Be Different 

    The Model 3 production line could be different for the company, though. As their first mass-market car, the Model 3 is meant to make the company a household name. While the Models X and S were experimental proof-of-concept style cars, the Model 3 is meant to be for anyone who wants an electric car. So, maybe this time Tesla will actually just make a profit and be okay with that.  

    No one expects them to stop planning for new cars, like the Roadster and Model Y concepts. It would, however, be nice to see them focus on just producing good, affordable electric cars. Especially in light of their recent layoffs and the controversy surrounding recent accidents with Autopilot, a bit of goodwill will go a long way for them. In the meantime, Tesla has expressed its goal for August is to produce more than 6,000 Model 3’s per week. It seems like they might just do it. 

  • Tesla Employee Sued Over Alleged Sabotage

    Tesla Employee Sued Over Alleged Sabotage

    Following the recent news that Tesla believed it had been sabotaged, the company has sued former employee Martin Tripp. The lawsuit claims that Tripp, who worked at the company’s factory in Nevada, stole trade secrets and sent them to unknown third parties. If true, this could be a partial explanation for the ongoing struggles to meet Model 3 production numbers. Such corporate espionage gives new perspective on statements from CEO Elon Musk that seemed paranoid earlier this week. 

    Tesla’s Statement 

    Regarding the incident, the electric automaker had this to say.  

    “Tesla has only begun to understand the full scope of Tripp’s illegal activity, but he has thus far admitted to writing software that hacked Tesla’s manufacturing operating system (“MOS”) and to transferring several gigabytes of Tesla data to outside entities. This includes dozens of confidential photographs and a video of Tesla’s manufacturing systems. 

    Beyond the misconduct to which Tripp admitted, he also wrote computer code to periodically export Tesla’s data off its network and into the hands of third parties. His hacking software was operating on three separate computer systems of other individuals at Tesla so that the data would be exported even after he left the company and so that those individuals would be falsely implicated as guilty parties.” 

    Public Image 

    The ambitious car company is likely eager to have this issue brought to the light, as it helps paint them sympathetically. Their recent struggles to meet production goals, coupled with recent fatalities related to Auto Pilot, haven’t helped their public image. However, being portrayed as the victims of corporate sabotage could help the company’s image and garner sympathy. Indeed, if Musk is to be believed, Tripp isn’t the only saboteur. While Musk hasn’t elaborated, he tweeted the following. “There is more, but the actions of a few bad apples will not stop Tesla from reaching its goals. With 40,000 people, the worst 1 in 1000 will have issues. That’s still ~40 people.” 

    While the company’s public struggles are well-documented, the company maintains that they’re on track to have a profitable third quarter. Soon, the company will have to divulge production numbers for the Model 3 for the past few months. Short sellers, people who stand to gain money if Tesla’s stocks drop, have been cautioned by Musk that their position will “explode” soon. We’ll see soon how things shape up for the innovative automaker.  

    Feature Image Credit: CNBC 

     

  • Luxury Car Breakdown: 2018 Tesla Model 3

    Luxury Car Breakdown: 2018 Tesla Model 3

    Everyone’s talking about Tesla right now. Their CEO, Elon Musk, is something of a celebrity and their cars are hot-ticket luxury items. Tesla’s newest luxury car, the 2018 Model 3, is here. Well, for some people. If you happened to reserve yours in advance. And you happened to be towards the front of the line. What’s the verdict? Read on to find out our thoughts on the futuristic vehicle. 

    Biggest Draw: Price 

    Tesla has a bit of a reputation as a company that makes cars rich people can afford, and that’s it. In order to bring themselves to mass-market, though, Tesla has made the Model 3 affordable. Musk has been promising a $35,000 electric car for years now, and the Model 3, nominally, delivers. It is worth noting, however, that the models currently available for reservation are closer to $58,000 than $35,000. Why is that, you might ask? 

    Well, there’s a few reasons. For one, the car is currently only available in its long-range configuration, which starts at $44,000. The long-range version can drive 310 miles on a full charge, while the standard-range gets about 220 miles on a full charge. Not to mention the price for wheels and paint, which add Additionally, amenities like heated seats come in the “Premium Package,” which adds $5,000 to the price tag, as does Autopilot. If you want to enable the vehicle to use the eventual self-driving functionality, you’ll spend another $3,000. Finally, you have to pay another $1,000 to have it delivered.  

    Okay, we finally have the thing paid for. Now what? Well, according to those who’ve gotten theirs and taken it for a spin, the next part is pretty sweet. 

    Interior 

    To get into the vehicle, you use a sleek black card that comes with it to unlock it. You can also pair an iPhone or Android phone to the car to have it unlock as you approach, which is awesome. Once you’re in, the interior is sparse and minimal. The design is either incredibly clean or dreadfully bland depending on who you ask. Personally, I tend towards the former, but I can see how someone might be put off by just how spartan it is for how much the car costs.  

    Oddly, the vehicle has no gauge cluster. Instead, it has a large, iPad-like display that handles all of the measurements and functions usually displayed on such gauges. It’s… it’s weird. But also, kind of cool? So, this display handles everything from speedometer to displaying how much charge is left. You control the radio, the autopilot, the wiper blades and nearly every other feature through it. It’s the only spot of note in the otherwise bare interior. If you’re into discreet, sleek tech you might love it. It’s as though Apple made a car with their focus on slick, immutable form. 

    The Drive: Worthy of the Title “Luxury Car”? 

    Is the car fun to drive, though? That’s the really important part. Thankfully, the answer is yes, and dreadfully so. The vehicle almost begs to be driven hard and fast, which, tragically, drains the battery pretty rapidly. That said, it hugs turns very well and steers like a dream. All reports say the Model 3 is a zippy, mean machine, especially considering it’s 100% electric.  

    The Verdict: Awesome, but Unfinished 

    Time will make the Model 3 the coolest car ever. Once it’s available for the (much more affordable) $35,000 and the kinks are worked out of the awkward interface, that is. As it stands, for how much you spend for the thing, and how clunky (and dangerous) it is to take your eyes off the road to fiddle with settings, it’s a bit disappointing. That said, the car is still stellar. It’s sleek, fast and high-tech, so enthusiasts won’t be disappointed. The average consumer will still be left wanting by the few wrinkles in the design, but I’m confident Tesla will have them ironed out in time.