4
Apr

Consumers’ Positive Reaction to the New Tesla Model 3

 

Consumers' Positive Reaction to the New Tesla Model 3By: Jason Mantel, Senior Vice President

On Thursday March 31st, the world was introduced to the carefully planned unveiling of the new Tesla Model 3 at the Design Studio in Hawthorne, Calif. And it’s fair to say that the world was ready for the news. After all, more than 180,000 vehicles were ordered on the first day, according to the Wall Street Journal.

There’s a lot riding on the Tesla Model 3 both for Tesla itself, as this Slate article opines, and for the electric car market in general. At Morpace we quickly gathered insights and perceptions from our MyDrivingPower online community, a group of more than 300 U.S. based consumers that are current or recent owners of EVs or hybrids, and via our social media platform.

So what first impression did the smallest Tesla make on consumers? Overall, the first impressions of the Tesla Model 3 are generally positive. Morpace measured a net positive sentiment of 70 percent across the social media spectrum. But the good vibes go beyond just appearance or features. MyDrivingPower panelists were impressed with the affordability of the Tesla Model 3, which has a base price starting at $35,000. Beyond just the price point itself, there is a feeling of ‘value’ in the Model 3 offering. Specific quotes from our panelists included:

               “The Model 3 has made my goal of owning a Tesla possible.”

               “It is so much more at an affordable price point than any of the other electric cars.”

We see that consumers may have reached beyond customary automotive media outlets for learning about the Model 3. Instead, sites and blogs that provide technology news are bustling with traffic. We talked to members of our MyDrivingPower community of electric vehicle owners, who are looking to sources like Wired and TechCrunch for their Model 3 updates. These enthusiasts are visiting technology sites (49%) slightly more than automotive sites (44%) to learn more about this Tesla model. Tesla’s own website appears to be a similarly visited site. The introduction of an electric vehicle seems to transcend traditional classification, arguably being as much a ‘technological advancement’ as an ‘automotive advancement’.

As of today, Tesla is generating all the buzz with the anticipation of their Model 3. The number of Model 3 units pre-ordered is likely to rise in the coming months as more information becomes available and familiarity increases. But for today, when thinking about this vehicle and similar models from other manufacturers, our community of electric vehicle owners are leaning towards the Model 3, as compared to the Chevrolet Bolt.

Nearly 9in 10 members selected the Tesla Model 3 over the Chevrolet Bolt, perhaps the most closely similar model available (based on range and price) if they were in the market for a vehicle today. Specific quotes about the Tesla Model 3 included:

               “An industry changer.”

               “It makes all other cars seem old and out-of-date.”

Morpace will be closely following the journey of customers anticipating the Tesla Model 3 over the coming months.

Comments are closed.

  • Waller Harris says:

    The average transaction price is anticipated to be $42,000, including the price of options and additional equipment. By the time of delivery Tesla vehicles will not longer qualify for the $7,500 federal tax credit offered to anyone buying an all-electric or plug-in hybrid model vehicle as the Tesla company will have surpassed the threshold 200,000 sales volume where the tax credit no longer applies. Also, California ,the major market, for EV sales has changed its requirements for qualifying for a rebate to limit or exclude higher-income buyers. it will be interesting to see if this change will impact Tesla sales or will buyers still buy even if rebates are lower or no longer available..