WAIT To Buy NEW Tesla Model 3 and Y | It's Coming Back
Summary
TLDRThe transcript covers the latest Tesla news. Key points include Tesla hitting a major California sales milestone with 1 in 8 cars sold being a Tesla; considerations around when to buy a Tesla given potential new models and tax credit eligibility; Tesla's $500M investment into their AI Dojo supercomputer system which Elon calls a 'long shot'; warnings from Elon about Chinese automakers like BYD poised to 'demolish most other car companies'; and updates on the upcoming Rivian R2 SUV and Acura ZDX pricing and specs as luxury EV competition heats up.
Takeaways
- 😲 Tesla captured 21.4% of all new car sales in California in 2023, with the Model 3 and Y as bestsellers in their classes
- 😎 With increasing EV options, Tesla's market share dropped from 71% to 60.5% in California, showing the rise of competition
- ⏳ It may be worth waiting for Tesla's next battery and model refreshes before buying, due to potential tax credit changes
- 🚀 Tesla plans to build a new LFP battery factory with CATL machines in Nevada, likely to help Model 3 qualify for tax credits
- 😕 Elon Musk called Tesla's Dojo supercomputer a 'long shot', though they just announced a $500M investment into it
- 😨 Elon Musk expects Chinese automakers like BYD to 'demolish most other car companies' globally without trade barriers
- 👍 BYD's cheapest EV in China costs just $11,400 currently, showing the extreme competition Tesla faces on affordability
- 🤔 Rivian may reveal its cheaper R2 electric SUV soon, expected to start around $40-50k and compete with the Model Y
- 🔋 Acura revealed its first EV the ZDX will start at $64,500 when it arrives later in 2023, featuring GM's Ultium platform
- 🚘 Porsche unveiled the electric Macan SUV with up to 630hp and 382mi range, competing directly with Tesla's Model X
Q & A
What milestone did Tesla recently hit for sales in California?
-Tesla captured 21.4% of all new car sales in California in 2023. Additionally, 1 out of every 8 cars sold in the state was a Tesla.
How much market share did Tesla lose in the California EV market over the past year?
-While Tesla's sales grew by 24.6% year-over-year, their share of the California EV market dropped from 71% to 60.5% due to greater availability of competing EVs.
Why might someone want to wait before buying the next Tesla Model Y?
-Tesla may soon upgrade the Model Y to match the new Model 3's features. Also, waiting could allow Tesla to qualify the Model 3 for tax credits again, making the Model Y effectively cheaper.
What is Tesla building at their Gigafactory in Nevada?
-Tesla is building a small LFP battery cell factory using CATL equipment. This could help them scale up 4680 production and potentially make LFP cells for vehicles like the Model 3.
What did Elon Musk say about the chances of success for Tesla's Dojo supercomputer project?
-Elon said he would think of Dojo as a 'long shot' that's not a high probability given the scale of investment required to be competitive in AI.
Why does Tesla see Chinese automakers as big competitors globally?
-Elon said Chinese automakers will likely 'demolish most other car companies' globally if trade barriers are not established due to their rapid growth and very affordable EVs.
When might Rivian reveal details about their upcoming R2 SUV?
-Rivian submitted a request to use public space in Laguna Beach for an R2 launch event in March, suggesting reveal details may come very soon.
How much will the base trim of Acura's first EV, the ZDX, cost?
-The base trim of the ZDX will start at $54,500 when it arrives later in 2023.
What is the expected EPA range for Porsche's new electric Macan SUV?
-Porsche has not released EPA range estimates yet, but the Macan has a WLTP estimated range up to 381 miles for the base trim.
How fast can Porsche's new electric Macan SUV charge?
-The Macan supports charging at up to 270kW, which can charge 10-80% in 21 minutes thanks to its 800V electrical architecture.
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