We heard pretty well every car geek squeal with excitement, in unison, today as Musk announced that as of March 31st, you will be able to reserve your own Tesla Model 3 for a $1000 down payment.
No signature series for Model 3. Same reservation amount for all.
— Elon Musk (@elonmusk) February 11, 2016
It will be March 31st for those of us lucky enough to live in a city that has a Tesla dealership, but if you don’t, you needn’t worry- you can make your online order on the 1st of April. You won’t get your Model 3 until 2017 (no date specified), but nonetheless, you will soon be able to guarantee your own.
Musk has been dropping hints about the Model 3 for quite some time now; he seems to end up talking about it pretty well every time he speaks to an audience. He has mentioned that the release date would be coming, so this is just the next step in an exciting process for most of his fans.
The nearest competition to the car will be coming from Chevrolet when they release their new Bolt also in 2017, another long-range, fully electric, affordable car. They are boasting a $30,000 price tag after federal credits, slightly higher than the Model 3.
It’s hard to say what the competition between the two brands will look like. The products that the two companies are offering are unprecedented, so we can only theorize about the result. It may be difficult for Tesla to compete with industry giants, but Musk’s personal brand certainly sets him apart from the competition. We will simply have to wait and see how they do when the time comes.
The fact that Tesla has been producing high-end cars exclusively, with a relatively high media coverage may end up working in favour of the company. Many who have been long time personal admirers of Musk are going to now be able to buy the car of their dreams for an affordable price. Tesla’s high safety ratings alongside the brand’s propensity for innovation may just be what puts Tesla ahead in sales.