""About three years from now, we're confident we can make a very compelling $25,000 electric vehicle that's also fully autonomous," Elon Musk said in September 2020. It's been just over five years since then. Are we any closer to Tesla's new, cheaper vehicles? On Tuesday, the company rolled out a Tesla Model 3 that costs $36,990 before taxes, fees, and incentives."
"He took me to an inflation calculator run by the US Bureau of Labor Statistics. This uses the broad US CPI, which encompasses most everyday costs such as fuel, food, and rent. The latest numbers are through August. $25,000 in September 2020 is now $31,118.03. When you compare that to today's new Model 3 price of $36,990, it's more than $5,800 above Musk's prediction."
"He also said back in 2020 that the $25,000 EV would be "fully autonomous." This latest Model 3 has Autopilot features, but you have to pay more for FSD, the more autonomous software package. What if we include US tax incentives for EV purchases? Most of these just went away, but let's try it anyway. $36,990 minus $7,500 is just under $30,000. So maybe Tesla has reached Musk's prediction? Should we adjust that original $25,000 prediction lower as well, though?"
Elon Musk predicted in September 2020 that Tesla could make a compelling $25,000 electric vehicle that would be fully autonomous within about three years. Applying the US CPI from the Bureau of Labor Statistics through August converts $25,000 in September 2020 to $31,118.03 today. Tesla's newly priced Model 3 carries a $36,990 sticker price before taxes, fees, and incentives, making it roughly $5,872 higher than the inflation-adjusted figure. The car includes Autopilot features while Full Self-Driving requires an additional paid package. A $7,500 federal tax credit would reduce the price below $30,000, but most incentives have expired.
Read at Business Insider
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