Tesla inventory (NASDAQ:TSLA) appears to be showing some stability this Friday amidst the launch of new updates about the Model 3, including details about leasing options for the best selling and acclaimed all-electric sedan.
The Model 3’s leasing options are a bit different from traditional leasing practices since customers won’t be given the choice to purchase the vehicle after the lease period is over. Instead, Tesla noted that cars will be utilized for the Tesla Network, a complete service that’s expected to compete against companies like Uber and Lyft.
Tesla’s statement also heralded the use of Autopilot as a standard feature in every electric car the company generates. The upgrade will increase the prices of vehicles save for the now-off-menu Standard Model 3, but it will ensure that all Tesla customers moving forward will get to enjoy Traffic Aware Cruise Control and Autosteer, two features that were previously reserved for owners who paid extra for Autopilot.
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Together with Tesla’s new updates to its vehicle lineup is your company’s launch of the affordable Standard Plus Model 3 to Europe and China. This could bring about a number of orders for the electric sedan in both regions, considering that the Standard Plus variant is a true bang-for-your-buck automobile, being priced competitively while retaining lots of the higher-priced Model 3 versions’ premium features.
You can now order the Model 3 SR+ in Europe! from teslamotors
Following an unsourced report by the Nikkei Asian Review on Thursday which alleged that Panasonic is freezing investments in Gigafactory 1, Tesla has released a response, clarifying that demand for battery cells continue to outpace supply. Tesla noted that it is working with Panasonic to increase output in Gigafactory 1 by optimizing the facility’s production equipment.
“Both Tesla and Panasonic continue to invest funds into Gigafactory. Having said that, we believe there is much more output to be gained from improving existing production equipment than was previously estimated. We are seeing gains from upgrading existing lines to increase output, which allows Tesla and Panasonic to get the exact same output with less spent on new equipment purchases. But, we will, of course, continue to make new investments in Gigafactory 1, as needed. Contrary to what is implied in this report, our demand for cells continues to outpace supply. It remains the fundamental constraint on Tesla automobile and Powerwall/Powerpack creation,” Tesla stated .
Tesla is scheduled to launch its first quarter fiscal report and earnings call this coming April 24 at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time). Elon Musk has proven to be conservative with Tesla’s financing in Q1, stating back in March that he does not expect Tesla to be profitable. Nevertheless, the earlier-than-expected date of this Q1 earnings call invokes some sense of optimism, since the company has demonstrated a propensity to release its fiscal reports early in quarters where its results are far better than anticipated.
As of writing, Tesla stock is trading -0.21% at $267.92 per share.
Disclosure: I don’t have any ownership in shares of TSLA and don’t have any plans to initiate any positions.
The post Tesla holds amid Model 3 leasing rollout, Standard+ availability in Europe and China appeared first on TESLARATI.
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