Tesla Motor 's Model 3 Vehicle

1346 WordsNov 21, 20166 Pages
The launch of Tesla Motor’s Model 3 vehicle took place in March of 2016. This newly engineered, high powered vehicle is projected to be the foundation for Tesla’s marketing strategy for the up coming year. The Model 3 stands as the “turning point for the company, vaulting the young automotive brand into a new market: middle-income buyers” (Kiley). While the all electric vehicle is similar to its predecessors, the Model X and the Model S, the Model 3 is significantly less expensive. The Model 3 is $35,000, while the Model X is priced at about $75,000 and the Model S at approximately $135,000 (“Car and Driver”). The target consumer sales market of this vehicle is the entire middle class and millennials. Elon Musk, the CEO of Tesla, is working to produce a significant number of vehicles in a limited amount of time, so an affordable, yet energy efficient vehicle can be available to every strata of the middle class, as well as to environmentally conscious, forward thinking buyers. While the Tesla’s Model 3 is the most current vehicle that is expected to have a significant effect on the company’s future projected sales, their earlier vehicle, the Model S was successful in its market as well. Although the Model S is significantly more expensive than the Model 3, Tesla’s marketing of luxury, eco-friendly, and innovative technology proved to consumers that their Model S was the right pick. According to Bloomberg, the Model S became a significant staple for the brand and became, “in

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