News
Tesla Model 3 dominates UK, sells more units than 2nd and 3rd most popular EVs combined
An automotive dealer magazine in the United Kingdom recently released statistics that name the Tesla Model 3 as the most popular electric car in the region in April 2020, and it was not a close race.
The Model 3 shone in the UK in the first month of Q2, outselling the Jaguar I-Pace and Vauxhall Corsa by a considerable margin. In fact, if one were to combine the number of units sold of the I-Pace (367) and the Corsa (264), the number would still be less than the number of Tesla Model 3 sold (658).
The Model 3 Standard Range+ starts at about £35,000 in the UK while offering 465 kilometers, or 288 miles of range under WLTP standards. Meanwhile, the I-Pace’s range is rated for 470 kilometers, or 292 WLTP miles in the UK, and its starting price is £64,495. The Corsa is the most affordable of the three with a starting pricing point of £26,990, but it only offers 330 kilometers, or 205 miles of range.
The figures appeared on Car Dealer Magazine, a United Kingdom-based automotive publication that is sent to 10,000 UK-located dealerships every month. The magazine wrote highly of the Model 3, while highlighting the fact that the automotive industry has taken more than a 97% drop compared to April 2019 due to the ongoing pandemic.
Car Dealer Magazine wrote, “It was – somewhat predictably – a dismal month for sales of new cars, with the SMMT today announcing a 97.3 percent drop on April 2019, but sales there still were – and the Tesla Model 3 shot to the top of the table with 658 units.”
The Model 3’s presence in the UK has been notable in the past. In late 2019, a trade association had announced that diesel vehicle sales had been dropping while battery electric vehicle (BEV) sales had increased by over 228%. This charge by BEVs was led by the Model 3, which had not only become the best-selling electric vehicle in the UK but the third highest-selling vehicle in the region regardless of propulsion.
The Model 3 has picked up several awards in the UK, which include “Car of the Year,” “Best Electric Car,” “Best Company Car,” and “Best Safety” awards from the prestigious automotive magazine Parker’s Car Guides. Writers and reviewers at Parker’s called the Model 3 a “capable, likable, and extremely good to drive” vehicle.
However, the Model 3’s dominance goes far beyond the UK.
Across the globe, the slowing automotive market has affected nearly every country that records automobile sales. In China, March was perhaps the most impressive month for the Model 3. After the registrations of Tesla’s most affordable sedan slumped to just over 2,300 in February, a 450% increase occurred in March, even though the entire auto industry was slowing down by over 43%.
The Model 3 continues to prove its dominance across different countries. Even in tough times for the automotive market as a result of the COVID-19 pandemic, the Model 3 has shown an uptrend in sales in some countries. The electric sedan has remained the “top dog” in other locations thanks to affordability, performance, and range.
Elon Musk
Tesla nears closure of Full Self-Driving purchasing option
The move to bring FSD to this type of purchasing program comes after CEO Elon Musk noted in January that Tesla would move away from the outright purchase option.
Tesla is nearing the closure of its Full Self-Driving outright purchasing option, which will be removed on February 14, meaning Saturday will be the last time it can be bought as a non-subscription.
Tesla is aiming to move its Full Self-Driving suite to a subscription-only platform, a move that will enable people to only pay monthly for the semi-autonomous driving functionality.
The move to bring FSD to this type of purchasing program comes after CEO Elon Musk noted in January that Tesla would move away from the outright purchase option.
It is currently priced at $8,000 for the outright option to use Full Self-Driving, a substantial decrease compared to the $15,000 it was priced at one time. For the monthly subscription, it is just $99 per month, but that price will change, likely increasing as things get more advanced.
Tesla is overhauling its Full Self-Driving subscription for easier access
We say it will likely increase because there is no indication of how Tesla will price FSD. There has been some speculation that Tesla could utilize a tiered system to price FSD, which would potentially allow owners to pick and choose a set of features that would be most ideal for them.
This would potentially introduce an even more affordable option for FSD use, but this is unconfirmed. The reason many say this could be an option for Tesla is the fact that if the price goes up further, the take rate, which is currently around 12 percent at its most recent estimate, could be lower.
Musk needs 10 million active Full Self-Driving subscriptions to unlock one of the tranches of his newest compensation package.
The move to a subscription-only platform has its positives and negatives, and owners have been more than vocal about these since Musk confirmed the move.
Positives
- Lower barrier to entry and higher potential adoption
- Financially better for many users
- Easier transfers and brand loyalty
- Predictable recurring revenue for Tesla
- Access to the latest features
Negatives
- Higher long-term cost for loyal/long-term owners
- No true “ownership” or permanence
- Risk of future price hikes or even deactivation
- Perceived as of less value
- Impact on resale and used market
Overall, there is a split among the Tesla community in terms of what they see as the “right” way to handle this. Tesla is likely to shed more details on what its plans for the subscription-only platform will be, including pricing, in the coming weeks.
Elon Musk
Elon Musk’s Boring Company selected for Universal Orlando tunnel project
The underground transport tunnel is designed to address the persistent gridlock surrounding International Drive.
Elon Musk’s The Boring Company has been selected for a proposed underground transit system connecting Universal Orlando Resort and the newly opened Universal Epic Universe.
The underground transport tunnel is designed to address the persistent gridlock surrounding International Drive.
As noted in a blooloop report, Universal’s Shingle Creek Transit and Utility Community Development District approved a resolution showing its intent to designate The Boring Company as the contractor for the project.
The agreement covers the full scope of the project, from the tunnel’s design, construction, and maintenance. The project has also been described in public documents as a “point-to-point innovative transportation” initiative with a 25-year agreement.
The proposed Boring Company tunnels would directly link Universal’s existing parks with Epic Universe, which sits roughly three miles away from Universal Orlando Resort. Today, buses are the only direct connection between the two destinations.
Project requirements were quite stringent. Bidders were required to demonstrate at least $75 million in bonding capacity, have a minimum of seven years of operational experience, and show prior delivery of a comparable project valued at $25 million or more within the past 15 years. The Boring Company, thanks in no small part to the Vegas Loop, meets these requirements.
The Orlando selection adds to The Boring Company’s growing portfolio of Loop-style systems. In Las Vegas, the Las Vegas Convention Center Loop has transported more than two million passengers in Tesla vehicles through underground tunnels since 2021. The greater Vegas Loop system is also under construction.
For now, residents in the area seem enthusiastic about the upcoming project. In a comment to Fox35, residents noted that the tunnels could improve traffic in the area.
“We are very congested at certain times and certain hours and that would certainly help with people not having to budget their time,” Mary Walters-Clark, a resident, stated. Another resident, Scott Heinz, echoed similar sentiments. “I think it would be a new opportunity to lessen traffic load and good for visitors as well,” he said.
The tunneling startup has started bringing its Loop projects to international locations. It recently signed a memorandum of understanding with Dubai’s Roads and Transport Authority to explore the development of a 17-kilometer underground Loop network beneath Dubai.
Elon Musk
Elon Musk tops Forbes’ list of America’s 250 greatest innovators
The ranking places Musk at the top of modern American innovation.
Elon Musk has been ranked No. 1 on Forbes’ inaugural list of America’s 250 Greatest Innovators. The ranking places Musk at the top of modern American innovation as the publication kicks off a series celebrating the nation’s 250th anniversary.
Forbes described innovation as “the grease in the economic engine” and the force that transforms industries and creates new ones. The publication highlighted that its honorees are not just inventors, but business leaders who successfully bring breakthroughs to market.
Musk, 54, was ranked No. 1 in this year’s list. Forbes noted that he is “the only person in history to have founded (or grown from nearly nothing) five companies, each with multibillion-dollar valuations, each in a different industry.” Those companies include Tesla, SpaceX, Neuralink, xAI, and The Boring Company.
Forbes’ methodology began with nearly 1,000 nominees submitted by its reporters. A panel of judges, including venture capitalist Jim Breyer, journalist Kara Swisher, and strategy expert Rita McGrath, ranked candidates based on creativity, breadth, engagement, disruption, and commercial impact. Artificial intelligence tools, including ChatGPT and Gemini, were also used to assess candidates before editors finalized the rankings.
The publication noted that more than one-third of the list consists of women and people of color, reflecting shifts in innovation and entrepreneurship over time. All individuals listed are also American citizens, though many were born abroad, including Musk himself. Musk was born in Pretoria, South Africa.
Ranked No. 2 is Jeff Bezos, 61, who Forbes credited with upending America’s $7.4 trillion retail industry through Amazon before pioneering cloud computing with Amazon Web Services. The publication highlighted that Bezos now focuses on space exploration through Blue Origin and artificial intelligence manufacturing systems at Prometheus.
At No. 3 is Bill Gates, 70, who helped launch the personal computing revolution and built Microsoft into the dominant force in workplace software. Forbes also highlighted Gates’ reinvention at age 50 as a data-driven philanthropist, including his role in helping eradicate polio from India.
Tesla nears closure of Full Self-Driving purchasing option
Elon Musk’s Boring Company selected for Universal Orlando tunnel project
