One of Tesla’s biggest drawbacks has always been the high initial cost of its electric vehicles compared to gasoline models. The cheapest car currently on sale costs $42490 excluding subsidies, and the research company Kelley Blue Book estimates the average price of 2024 models to be just over $63 thousand.
Nevertheless, the company is working to remedy the situation and promises to please fans soon. Tesla wrote in its third-quarter disclosure report that it is «preparing» to offer new cars with «more affordable models». The cost of electric cars has also dropped to the «lowest level in history» — $35,000.
«Plans for new vehicles, including more affordable models, remain on track to begin production in the first half of 2025», the report said. «These vehicles will utilize aspects of the next-generation platform as well as aspects of our current platforms and could be produced on the same production lines as our current vehicle lineup».
Tesla also says that it plans to «start producing» its cheaper electric vehicle models «in the first half of 2025». This wording is still quite loose, so there is no guarantee that a new model will be delivered in the same year.
Another surprise in Tesla’s report was the numbers. It turns out that despite such setbacks as the fifth Cybertruck recall and a federal investigation into the Full Self-Driving function of electric vehicles, Tesla had a fairly solid third quarter. The automaker’s net income rose 8% percent to $2.51 billion, and sales were up 2% year-over-year. The news also ends a four-quarter streak of missing its profit target.
Source: Engadget
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