Casual T-Shirt Tuesday Will Not Be Interupted By Pesky Annual Shareholder Meeting!
The CEO started out with some light hearted banter about why the Model S only achieved 99 out of 100 on the electric sedan’s very high profile, near perfect, Consumers Report rating. That result was actually tied for the all-time best rating with the Lexus LS 460L in 2007.
(For the record, some questions about the availability of the rapid charging infrastructure perhaps limited the freedom of Model S owners stole that last point)
Of more interest was an update on the upcoming, less expensive 3rd generation offering.
Tesla Maps Out Their Plans For The Next 4 Years
On that subject Mr. Musk noted it would basically be“a smaller version of the Model S at half the price.” The Model S,with the deletion of the 40 kWh entry level offering, currently starts at $69,900 (before incentives), meaning this future car will have a price around $35,000.
The Tesla founder notes the following tidbits on the Gen III car:
-now expects the car to arrive in 3-4 years (which is later than the original estimate, but a sooner arrival than the last update/tweet when the car’s arrival was pegged in the 2017-2018 timeframe)
- 200 miles of range (in fact Tesla notes that all their cars will now always have at least 200 miles of range)
- working with Panasonic with new cell electrochemistry to make affordable 200+ mile ranges happen
- “strong family resemblance” to the Model S
- use of ultra-capacitors that “the public doesn’t know about”
- all cars to utilize supercharge
Tesla Does Some Forecasting For 2013
- Musk notes that if you add up all the revenue from the Model S in the first quarter, it is greater than all the other plug-in cars combined
- Future growth on the Model Splatform? Model X and “potentially will do some other products on that platform”
- Tesla raised “more money than they think they need” after last financing round – $760 million in cash after repaying government loans on hand. Will use funds as an insurance blanket against unforeseen market conditions
-Model S demand in US estimated at 15,000/year
- Europe deliveries of Model S will “be on the boat” in June, arrive in July
- Asian deliveries in Q4
- Musk sees worldwide demand for Model S at 40,000 (although company ‘notes’ display 30,000). A big portion of future sales will be generated virally
- Boutique stores to increase by 50%, or 34 to 50 this year
- Service centers to increase to “over 75,” multiples service centers in some areas such as Los Angeles
- Model X to still be available “late 2014,” will go after 7 passenger seating/minivan market
Tesla Model X To Get “Into Customer Hands” By The End Of 2014
From the Q&A Mr. Musk also had some interesting comments:
“Any plans to add noise to the motor?” – from some old lady
-challenge is to avoid noise pollution, and to have proximity sensors to direct a pleasant noise in the direction of someone who walking. So it is the least amount of noise, going in the direction it needs to go
“Are you having fun yet?” – are there any serious/normal people asking question?
- “I’m having a lot more fun these days! <laughs>” Past achievements are more enjoyable in recollection, but were extremely stressful at the time. But there is a steady improvemnt now
“Cars in the category of Model S tend to have a 6 year refresh cycle. Sales typically peak in 2-3 years, so what the life cycle of the Model S? Where could sales peak?” – sharehold (who doesn’t own a are)
- We don’t have an existing service and sales infrastructure. I think peak sales will probably be in year 3 or 4, because it will take us a while to fully build out sales and service of the Model S…we want to make sure the car is available worldwide. ”In terms of when there will be a significant redesign of the Model S it is probably in the 6th or 7th year…with a mild refresh in the 3-4 year point”
Source: InsideEVs
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