“With each successive design iteration, you can add more things, you can figure out better ways to produce the idea, so the idea gets better in addition to cheaper,” Musk said. With “natural progression of any fresh technology, the idea takes multiple versions in addition to large volume to make the idea more affordable.”
Currently one of the top trade-ins for a Tesla design 3 is actually a Toyota Prius, according to statements Musk made during an August earnings call. The Prius, which starts at $23,475, is actually roughly half the cost of the $49,000 design 3 starting cost.
Musk boasted which Tesla shells out virtually nothing on advertising in addition to endorsements, in addition to relies heavily on word of mouth.
“Where I put all the money into in addition to all the attention into is actually trying to make the product as compelling as possible,” Musk says. The key to selling a product is actually having something people love in addition to will talk about, he added.
“If you love the idea, you’re going to talk in addition to which generates word of mouth,” he told Brownlee. which’s Tesla’s business design: rely mainly on word-of-mouth. The company isn’t spending on advertising, according to Musk. in addition to no discounts. Musk said even he pays full retail cost on his Tesla cars.
Musk’s sit-down was published on YouTube within the wake of an unusually personal fresh York Times interview, in which Musk displayed rare moments of emotion as he described the pressures of meeting a recent design 3 production milestone. The bombshell report sent Tesla’s stock reeling in Friday’s trading, in addition to laid bare concerns among Tesla board members about Musk.
The NYT article landed at a turbulent time for the electric carmaker. Musk upped the ante in his battle against investors betting against Tesla’s stock, tweeting recently which he had “funding secured” to take Tesla private at $420 per share. which sent shares soaring, in addition to ultimately prompted the SEC to open a probe, according to reports.
Correction: This specific design corrects the spelling of Tesla’s name.