Tesla (TSLA) claims the company will begin launching more affordable models in 2025
- by Shacknews
- Oct 23, 2024
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October 23, 2024 1:58 PM
Image via Tesla 6
Following its most recent earnings results, it sounds like Tesla believes it will be able to launch new, more affordable models of its vehicles by the first half of 2025. Affordable Tesla models have been in the forecast for several years, but Tesla now believes it can get these particular vehicles into production and out the door by what would likely be June 2025 at the latest.
Tesla shared its production for new models and the new affordable models in the Shareholder Deck for its Q3 2024 earnings results. According to Tesla, these models and other new Tesla vehicles are set to launch as it continues to lower the cost of goods sold:
Our cost of goods sold (COGS) per vehicle 5 came down to its lowest level ever at ~$35,100. In order to continue accelerating the world’s transition to sustainable energy, we need to make EVs affordable for everyone, including making total cost of ownership per mile competitive with all forms of transportation. Preparations remain underway for our offering of new vehicles – including more affordable models – which we will begin launching in the first half of 2025.
Tesla (TSLA) stock was up in after-hours trading on the back of the Q3 2024 earnings results.
If Tesla manages to meet its 2025 forecast, then it would actually be in line with its previous expectations set back in January 2024. Under the codename of “Redwood” at the time, Tesla predicted earlier this year that it could get its new affordable vehicles out the door in 2025.
Tesla missed on revenue, but beat on earnings-per-share for Q3 2024. As we watch to see if it can actually get its promised new vehicles out the door, stay tuned for more Tesla coverage and financial reporting here at Shacknews.
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