Episode 422: The New Model 3 Has Been Officially Revealed
Sep 3, 2023
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The podcast discusses the official reveal of the revamped Model 3 in China, along with significant price drops for the Model S and Model X. They also talk about the changes and improvements in the new Model 3, including design tweaks and updates to the interior. The episode highlights Tesla's impressive output and introduces new sponsors. They also cover various topics such as renting a Model 3, favorite beer, and speculation on free supercharging with Hertz rentals.
Tesla has announced significant price drops for the Model S and Model X, likely aimed at boosting sales for both models.
The elimination of the Standard Range options for the Model S and Model X may result in customers receiving the Long Range versions with software-locked features, but it is unclear whether they will also benefit from the price drops.
The price drops for the Model S and Model X, along with the availability of all paint colors for free, may impact Lucid Air's market positioning and sales as Tesla's competitive pricing makes its models more accessible to buyers.
Deep dives
Major price drops: Model S and Model X
Tesla has announced significant price drops for the Model S and Model X. The long range Model S is now priced at $75,000, down from $88,000, while the Model S Plaid is now priced at $90,000. Similarly, the Model X long range now costs $79,990, down from its previous price of $88,000, and the Model X Plaid remains at $90,000. These price drops are likely aimed at boosting sales for both models.
Elimination of Standard Range S and X
Tesla has also eliminated the recently introduced Standard Range options for the Model S and Model X. Instead, those who ordered the Standard Range versions will likely receive the Long Range with software-locked features. It is unclear whether these customers will also benefit from the price drops.
Tax credit eligibility and free paint colors
The price drop for the Model X now puts it in the range for the federal income tax credit of $7,500. Additionally, all paint colors for the Model S and Model X are now available for free, including the previously upcharged Ultra Red color.
Implications for Lucid Air
The significant price drops for the Model S and Model X may pose a challenge for Lucid and its Air sedan. While the Lucid Air has received positive reviews, the competitive pricing of the Tesla models could potentially impact Lucid's market positioning and sales.
Significant price drops for SNX models
In this podcast episode, the host discusses the recent price drops for Tesla's Model S and Model X. The host highlights how these price drops make the Model S and Model X more accessible to buyers who previously could only consider the Model 3. The lower price points may influence the demand for SNX models in the fourth quarter.
Price drop for Full Self-Driving (FSD) package
Another key point discussed in the podcast is the price drop for Tesla's Full Self-Driving (FSD) package. The host expresses surprise at the price reduction, considering Elon Musk's previous statements about the value and potential profitability of FSD. The host also shares their personal opinion on the FSD price, suggesting that $10,000 would be their upper limit for purchasing the package.
The revamped Model 3, codenamed Project Highland, has been officially revealed in China and there’s a lot to discuss! But the huge news doesn’t end there this week, as the Model S and X got massive price drops, and FSD got a price adjustment too – but for once it went down, not up. Stay tuned, this is one of the biggest weeks of Tesla news in the entire eight years I’ve been doing this podcast!
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