Latest Tesla Updates: Price Changes, Model Y, China Production, and More

Tesla Model 3 Price Adjustments

Tesla recently increased prices on two of the three versions of the Model 3. The Standard Range Plus version, which is the most affordable option listed online, now costs $39,490, marking a $500 increase. Additionally, the range rating for this model has improved from 240 miles to 250 miles. The Performance version, the top-tier model, also saw a price hike of $1,000, bringing its total cost to $56,990. These adjustments come after Tesla reduced prices earlier this year as the federal tax credits for these vehicles began to phase out.

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These price changes are particularly significant as Tesla prepares to release its third-quarter earnings report. Investors are keen to understand how the growing sales of the more affordable Model 3 will impact the company's overall earnings.

Updates to Tesla’s Return Policy

In addition to the price adjustments, Tesla has also revised its order deposit and return policies. The company now requires a $100 nonrefundable fee to place an order, which is lower than the previous reservation and deposit fees but is no longer refundable. The updated refund policy still allows buyers to return their car within seven days or before reaching 1,000 miles. However, there's a new stipulation: if a buyer returns a car, they cannot purchase the same trim level for a year, although they are free to buy a different Tesla model or trim level.

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Tesla’s Production Approval in China

Despite ongoing trade tensions, China has officially approved Tesla for production and granted the necessary certificate to begin manufacturing at its new factory near Shanghai. According to Yale Zhang, head of the Shanghai-based consultancy Automotive Foresight, "The green light is fully given to Tesla for production in China," meaning Tesla can start building cars at any time. This development is a significant milestone for Tesla as it expands its global footprint and aims to tap into the lucrative Chinese market.

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Model Y Sightings and Ford’s Rival EV

While Tesla has been secretive about its upcoming pickup truck, the Model Y, a crossover based on the Model 3, has been spotted multiple times since its unveiling earlier this year. The Model Y is expected to hit the market in 2020 and has already generated considerable buzz among Tesla enthusiasts.

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On the other hand, Ford has revealed some details about its "Mustang-inspired" electric crossover, set to rival the Model Y. Ford announced that this new EV will have seamless access to Electrify America’s fast-charger network through the FordPass app. The vehicle aims for an optimal 300-mile range with an extended battery and rear-wheel drive, suggesting that there may be multiple battery options and an all-wheel-drive version with a potentially shorter range.

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Autopilot Saves the Day

A Tesla owner driving his Model 3 Performance on Autopilot near Glacier National Park in Montana shared a heartwarming video where Autopilot detected a mama bear and her cubs on the road. The system brought the car to a stop, preventing a potential collision. The owner described the bear giving him a "death stare" as it foraged for food, a common activity during this time of year as bears prepare for winter hibernation. This incident highlights the advanced capabilities of Tesla's Autopilot system and its potential to enhance road safety.

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Conclusion

Tesla continues to make headlines with its latest updates, from price adjustments and policy changes to significant developments in China and advancements in its Autopilot technology. As the company prepares to release its third-quarter earnings, all eyes are on how these changes will impact its financial performance. Meanwhile, the competition heats up with Ford's upcoming electric crossover, setting the stage for an exciting battle in the EV market. Stay tuned to MotorVero for the latest updates on Tesla and the automotive industry.

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