Washington (GGM) Analysis | January 29, 2020
by Noreen Wise
After a ten year struggle to become profitable, Tesla nailed it in 2019. The 4th quarter was the turning point according to CNN.
Some of the key factors for increased growth in consumer demand that put Tesla into the black are:
- how long it takes to charge
- how many public charging stations exist in local communities
- and the EV car price
Every single one of these critical factors have moved in the right direction.
- range increased with the new average at 200 miles per full charge
- charging time went down significantly and now only averages a quick 20 minutes
- public charging stations have mushroomed, not only businesses providing them in corporate parking lots to employees, but stores offering charging stations to consumers as a competitive advantage
- EV car prices have dropped substantially
Climate action focused states such as New York, California, Connecticut and Massachusetts have crafted creative carrots and stick, incentives and regulations, creating a patchwork of solutions that are driving results. Very happy for Tesla to finally experience the upside of being an innovator, after schlepping through the painful wilderness for so long.
In 2020, Tesla will have to face a much more competitive landscape, now that most of the obstacles in the EV marketplace have been eliminated.
The following is CNET’s Road Show’s official 2020 EV lineup by range:
- Tesla Model S |373 miles | $79,990
- Tesla Model 3 | Long Range 330 miles | $44,500
- Tesla Model X | 328 miles | $81,000
- Chevrolet Bolt EV | 259 miles | $36,620
- Hyundai Kona Electric | 258 miles | $36,990
- Kia Niro EV (SUV) | 239 miles | $38,500
- Jaguar I-Pace | 234 miles | $69,850
- Nissan Leaf Plus | 226 miles | $36,550
- Audi e-tron | 204 miles | $75,000
- Porsche Taycan | 201 miles | $150,900
- BMW i3 | 153 miles | $44,450
- Nissan Leaf | 150 miles | $29,990
- Mini Cooper SE | 110 miles | $20,000
- Honda Clarity Electric | 89 miles | lease only
Very extensive options. But the Tesla Model 3 certainly shines amongst its peers.~
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