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Tesla to Plans Early 2019 Launch of Model 3 in Europe
Tesla Inc. says it will begin taking orders for its Model 3 electric sedan from European buyers by the end of this year and begin selling the $45,000 (€39,400) car there early next year.
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Tesla Inc. says it will begin taking orders for its Model 3 electric sedan from European buyers by the end of this year and begin selling the $45,000 (€39,400) car there early next year.
CEO Elon Musk predicts global demand for the Model 3 eventually will reach between 500,000 and 1 million units per year. The company says it has more than 360,000 orders for the car.
Musk has noted that a growing market overseas will help offset softer growth in the U.S. that may occur when Tesla’s access to federal tax incentives on its EVs begins to phase out at the end of this year.
The federal program grants buyers a one-time tax credit worth $7,500. But that amount begins to shrink when any carmaker reaches cumulative EV sales of 200,000 units in the U.S. Tesla became the first producer to achieve that landmark in July. Tesla customers will be eligible for a maximum $3,750 tax write-off next year and $1,875 before the incentive disappears entirely in mid-2020.
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