Tesla Model 3 Aligns Closely With Consumer Desires
Autolist.com study reveals that Model 3 addresses buyers’ battery range and depreciation concerns
San Francisco — August 22, 2017 — The buyer intelligence firm Autolist.com today released a study that shows the specifications of the Tesla Model 3 closely align with consumer desires and needs for mass-market electric vehicle purchasing.
The Model 3 Study, based on Autolist.com’s survey of over 14,000 vehicle owners, shows that 34% of consumers list battery range as their primary reason for not buying an EV. While battery range is the most common reason cited, over 24% of consumers say cost is their main reason for not purchasing an EV. With the Model 3’s low base price and enhanced range, the vehicle’s value proposition takes square aim at these two consumer concerns.
In addition, 57% of vehicle owners say they would not hesitate to buy an EV with a range of 300 miles. In top-spec form, the Model 3 forecasts a 310 mile range, thereby crossing the necessary threshold for the majority of vehicle owners. By contrast, only 18% of vehicle owners would buy an EV with a range of 200 miles.
As a final component to the study, Autolist.com also published a predicted depreciation curve for the Model 3.
Derived using Model S depreciation, its peer group, and corresponding entry level competitor pricing data, the forecast projects a best-in-class depreciation curve for the Model 3. Specifically, the study predicts that the average Model S will lose only 29% of its value after 50k miles and 50% of its value after 100k miles.
Between the alignment with consumer desires and potential for limited depreciation, the Model 3 looks ready to be the hit Tesla needs.