The Tesla Model 3 could easily dominate the entry-level luxury car class market — just as the Model S is already dominating the full-size luxury car market in the US — according to a new report from Bloomberg.
Why, you ask? For the exact same reasons that the Model S is currently dominating the large luxury car market — the Model 3 could very easily eclipse the performance, features, and “driving experience” of what’s out there currently, while still possessing a lower price tag , according to the report.
The report notes that even though the Tesla Model S offers a very high-end range of specs and overall driving experience, the model comes in notably cheaper than most comparable models do.
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The Model 3 will compete with the BMW 3 Series, Mercedes C Class, and Audi A4. Compared to the price of those cars, the Model 3 may appear to be a bargain.
Bloomberg raves about the Model S, heaping accolades on it for being faster than almost any other production car on earth while offering an extraordinary level of safety to the people riding inside. Assuming the Model 3 blows away the competition the way the Model S does, it will outsell the BMW 3 Series and Mercedes C Class by a significant margin.
…Forget about gas prices, it says. People who buy a BMW 3 Series or a Mercedes C Class don’t care very much about what they are paying at the pump. They are focused on what their cars say about them and their lifestyle. Let the Bolt and LEAF owners of the world worry about pinching pennies. Tesla Model 3 buyers will operate on an entirely different plane, one that looks up to the Model S rather than down to the mass produced people movers of the world.
The report notes that if the Model 3 dominates its market segment in the same way that the Model S does its market segment, then that equates to around 170,000 sales in the US a year. International sales would of course add to that total — and could well add up, altogether, to the 500,000 target quoted by CEO Elon Musk.
The Model 3 reveal is nearly here… We’ll know more about what’s likely then.
Image Credits: Bloomberg