One of Tesla’s biggest downsides has always been the initial cost of electric cars compared to gas models. The cheapest car it currently sells is $42,490 before subsidies, which is the average price 2024 models start at just over $63,000.
Tesla wrote on his page says it is “preparing” to offer new vehicles with “more affordable models.” The EV maker’s cost of goods sold per vehicle also fell to an “all-time low” of $35,1000.
“Plans for new vehicles, including more affordable models, are on track to begin production in the first half of 2025,” the report said. “These vehicles will use aspects of the next-generation platform as well as aspects of our existing platforms and will be able to be produced on the same production lines as our current vehicle line-up.”
Tesla also said it plans to begin “launching its cheaper EV models in the first half of 2025.” This statement is still quite loose, so there is no guarantee that the new model will be shipped the same year.
The other surprise in Tesla’s report came from the numbers. It turns out that despite some failures and a related federal investigation Tesla had a pretty strong third quarter. The automaker’s net income rose 8 percent year-over-year to $2.51 billion, while sales rose 2 percent. The news also ends the quarter streak .
