Sales of Tesla’s model S electric car have been picking up over the past year. Their sales for the first quarter of this year were substantially higher than the first quarter of 2014. The one thing holding back the Model S is its price, which is about $70,000 for the basic package. Tesla Motors had already announced their Model 3 sedan, which will be shown in March of 2016 and will be in peoples’ garages come the beginning of 2017.
If the Model 3 ends up being as impressive as it seems, it will no doubt be in a lot of garages. This car will revolutionize the electric car industry by bringing over 200 mile range before needing a recharge to the affordable car market. The Model S can already go over 200 miles before needing a charge, but the Model 3 will bring this capability to an electric vehicle that people will be able to buy for $35,000. This is in a market where most affordable electric cars currently on the market can only go less than 100 miles on a single charge. Tesla Motors does need to stay on schedule and get this new model to market as soon as possible because competitors are not standing still. Car lovers at Boraie Development (wsj.com) know that Chevrolet is working on their new Bolt, which will cost under $40,000 and is expected to have a range of about 200 miles. If Tesla moves fast, they can own the low cost, long range electric vehicle market before the competition is quick enough to respond.