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    Will Tesla Cars Get Cheaper?

    Jul 31,2022 | Chloe Lacour

    Tesla offers some of the most desirable electric vehicles on the market. Not only are their cars luxurious, ultra-modern, and fun to drive, but they are also expensive. But will Tesla cars ever get cheaper?

    Tesla cars will get cheaper in a few years. In September 2020, Tesla's CEO Elon Musk announced a technology that he believes will make Tesla's batteries cheaper and more powerful. In a statement, he said: "It has always been our dream to build an affordable electric car."

    During the live presentation that Dr. Referred to Elon Musk as “battery day,” he also announced that in about three years, a fully autonomous Tesla will be available for $25,000. For comparison, the cheapest electric cars on the market are priced at around $30,000, which means affordable Teslas will be even cheaper.

    The technology that will make Tesla cars cheaper is Tesla's new larger cylindrical cells. Musk claims these batteries will offer five times more energy, six times more power, and 16 percent more range. However, it may take years for this technology to be fully implemented.

    Why are Teslas so expensive?

    If you want to buy a new Tesla, you have to invest several thousand dollars. The cheapest Tesla model, the Tesla Model 3 Standard Range Plus, costs around $41,190. The most expensive Tesla model, on the other hand, is the Tesla Model X Plaid with a price of 121,190 dollars.

    With such exorbitant prices, it's easy to see why most people see Tesla as cars for the rich and not for ordinary people. To clarify, according to the Kelly Blue Book, the median price for a new midsize car in 2020 was around $25,000, while the price for a midrange SUV was around $33,000.

    If you're wondering why Teslas are so expensive, here's why:

    High Demand
    The main reason Teslas are so expensive is due to high demand and low supply. Many people have ordered Teslas and are still waiting for their vehicle to be delivered. As the electric car race heats up, Tesla is way ahead of the competition, which is why many people prefer Tesla over other brands.

    Tesla is the most popular electric car on the market because of its advanced technology and excellent range. Many electric cars don't have a long-range, which is why many buyers choose Tesla. In addition, many of the major car brands are not yet offering pure electric cars, but they are about to join the race.

    In addition, the high demand for Tesla vehicles is also being promoted by the green electricity movement. Because Tesla vehicles are fully electric, they do not emit any carbon dioxide. Therefore, they do not pollute the environment like gasoline-powered cars. So, people who support this movement are in a hurry to buy all-electric cars like Tesla.

    Low Production
    Even if demand for Tesla cars is high, production is very low. At the moment, Tesla does not have enough factories to meet the high demand. As a result, unlike most traditional car brands, which have factories around the world, Tesla can only produce a few vehicles.

    Expensive battery technology
    Another big reason Tesla is so expensive is the high cost of its battery technology. Tesla's batteries are the most expensive part of Teslas. For example, the Tesla Model S battery costs about $30,000, which is about 42% of the vehicle's price. That's pretty expensive.

    How does Tesla plan to make its cars cheaper?

    The good news is that Tesla plans to lower the cost of its cars over the next three years. While this may take a little longer, this is good news for the green energy movement. Many electric car users will be able to afford a Tesla as the company plans to produce cheap cars with a starting price of up to $25,000.

    Lowering Production
    Costs One of the ways Tesla plans to lower the cost of its cars is by lowering production costs. Tesla's main plant is in Fremont, California, where the cars and most parts are made. Nevertheless, the company plans to double the capacity to almost 10 million square meters.

    In addition, Tesla is building a massive factory in the Nevada desert that it says will be the largest in the world. In addition, Tesla is already using an already completed part of the new factory to build its batteries. Tesla has also expanded overseas with its new factory in Shanghai.

    With this expansion, Tesla will ramp up production and lower manufacturing costs, which will also result in lower prices for Tesla cars.

    Developing new battery technology
    The main reason why Tesla cars will become cheaper in the future is due to the battery technology that Tesla is working on. The company intends to reduce the cost of manufacturing batteries while developing energy-efficient batteries.

    FAQ

    Are Tesla cars overpriced?

    Yes and no. Tesla cars are overpriced because the company is taking advantage of high demand. However, these cars are worth every dollar since they are equipped with the best battery technology. Also, they are very advanced compared to other pure electric cars.

    Is a Tesla expensive to maintain?

    No, that's not expensive. If you look at the cost of maintaining other popular luxury cars like BMW, Mercedes-Benz, Audi, and Porsche, you'll find that a Tesla is cheaper to maintain. Tesla also offers a factory warranty for all of its models and an extended service contract for the Tesla Model X and Model S.

    How long do Teslas last?

    The lifespan of a Tesla is determined by the lifespan of the battery. Most Tesla models last up to 8 years. Nevertheless, you can replace the battery and continue driving your car without any problems. But since Tesla hasn't been around for more than 20 years, it's hard to say how long it will last.

    Conclusion
    If you've been wondering if Teslas are getting cheaper, you don't have to. Yes, Teslas will get cheaper as the company expands and builds new facilities. Tesla is also improving its battery technology, which accounts for 42% of the total vehicle price. With new battery technology, Teslas will become more affordable.

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