Tesla offers good news for electric car buyers

Tesla offers good news for electric car buyers

Tesla (TSLA) It is the nerve center of the electric vehicle market.

Even its competitors admit it, calling the group of dreamy CEO Elon Musk “enemy number one.”

Old automakers and futuristic disruptors all compare to Tesla. While this comparison is meant to try to draw attention to their efforts and their brand, it also reflects the fact that other electric car manufacturers recognize that if Tesla is doing well, the electric car business is doing well. If Tesla coughed, the entire industry would cough.

This was confirmed in recent months when the Austin, Texas-based auto manufacturer extended vehicle delivery times, citing supply chain disruptions exacerbated by the COVID-19 pandemic and chip shortages.

If Tesla, which produced nearly a million electric cars in 2021, needs more time to manufacture its cars, this should be the case for everyone, and so has the industry belief.

Shorten Tesla delivery times

from Ford (F) for Volkswagen (VLKAF) via GM (GM) Rivian (countryside) “Lucid” (LCID) Delivery times have been extended at nearly all auto manufacturers offering electric vehicles. The challenge for all of these groups has become to meet strong demand fueled by favorable environmental policies and the high price per gallon of gasoline at the pump.

Tesla has just made new decisions that can reassure fans and potential electric vehicle buyers who are wondering when they’ll be able to get theirs. In fact, Musk Group has reduced waiting times in China, the world’s largest car market.

Delivery times have already been shortened on two of China’s bestsellers – the Model Y SUV/crossover and the Model 3 sedan.

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Wait times for a Model Y SUV entry have been reduced to one to four weeks from four to eight weeks in mid-August, according to Tesla’s Chinese website. Thus, the waiting period was reduced by an average of four weeks.

Likewise, the wait is now 1-10 weeks instead of 16-20 weeks for the two-wheel drive Model Y. Model Y Performance Edition customers will wait 1-10 weeks once they place their orders compared to 12-16 weeks earlier.

Overall, Tesla has cut its delivery time at least in half, which means that the Shanghai plant is running at full strength again after being disrupted by the shutdown in China aimed at curbing the spread of covid-19.

Customers who order the Base Model 3 will receive it within 1 to 8 weeks, compared to 12-16 expected in mid-August. The waiting time for Model 3 High Performance is now 1 to 8 weeks as well, compared to 12 to 16 weeks previously.

Tesla is about to produce more cars

These changes may portend improvements in the United States, where waiting times are still long. But Tesla is starting to play it down a bit.

For the Model Y Long Range, a customer ordering today will, in the best case scenario, wait three months for delivery. In fact, Tesla now indicates on its website that new orders for this model will be met between December 2022 and April 2023 compared to January and April 2023 in mid-August.

US customers will have better luck with the more expensive Performance Model Y because there is virtually no waiting time. The delivery time is already between September and October 2022, which has not changed.

Model 3 delivery times in the US are currently at least 6 weeks.

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Another piece of news that will undoubtedly delight consumers but irritate competitors is that Tesla has just completed an expansion project at its factory in Shanghai, Reuters reports.

This means that the electric vehicle maker will start producing 22,000 Model 3 / Model Y per week at this location. Production tests are scheduled from September 19 through November 30. If all goes as planned, Tesla will be able to meet demand much sooner than expected.

The group currently produces between 15,000 and 16,000 units per week in Shanghai. The plant has a production capacity of 750,000 Model Y / Model 3 annually, but Tesla wants to make 1 million cars a year there.

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