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Tesla Model 3 stuns the UK by ranking 3rd in Top 10 best-selling cars list

A right-hand-drive Tesla Model 3. (Photo: Mick Paul/Twitter)

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The UK’s new car registrations rankings from the Society of Motor Manufacturers and Traders (SMMT) in August 2019 proved quite surprising, thanks in no small part to the arrival and apparent success of the Tesla Model 3.  

Prior to the Model 3’s arrival, Tesla had only been registering around a few hundred cars a month in Britain, to the point where the company did not even warrant its own separate brand in the SMMT’s monthly rankings. Tesla’s Model S sedan and Model X SUV were well-loved by consumers, but both were simply listed as part of the “Other” category. 

As it turned out, the Model 3 would make a big splash in the region with its arrival. The electric sedan was launched in the UK back in June, but deliveries of the vehicle only started to hit their stride last month. In August, the Model 3 pushed an 847% increase in the numbers of the SMMT list’s “Other” category. The Model 3 also raised the UK’s overall electric car deliveries for August 2019 by 377%.

The UK’s best-selling cars for August 2019. (Credit: SMMT)

These numbers resulted in the SMMT’s Top 10 list for August 2019 having the “Other” category in third place, just behind the Ford Fiesta and Volkswagen Golf, both of which are more affordable than the Tesla Model 3. Other vehicles in the society’s Top 10 list were affordable vehicles as well, such as the Ford Ecosport and the Volkswagen Tiguan.  

Even more remarkably, the strong sales of the Tesla Model 3 in the UK also helped control the overall decline in UK new car registrations in August to just 1.6%, or just 1,521 vehicles fewer compared to August 2018’s figures. This was explained by Society of Motor Manufacturers and Traders (SMMT) chief executive Mike Hawes in a statement to Motoring Research

“August is typically the new car market’s quietest month so the huge increase in EV registrations is very visible but especially welcome. It’s great to see consumers respond to the massive industry investment made over many years. While this is encouraging, these figures also show the scale of the challenge ahead. 

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“It’s a long road to zero and while manufacturers can deliver the technology, they can’t dictate the pace of uptake. To support a smooth transition and deliver environmental gains now, we need a long-term government commitment to measures that give consumers confidence to invest in the latest technologies that best suit their needs,” he said. 

The Tesla Model 3 continues to be a force to be reckoned with in the UK’s auto market. Apart from its strong sales, the vehicle was also lauded by reviewers such as UK-based auto group carwow, which listed the Model 3 as the best electric car that consumers can buy today. Certified gearhead and Top Gear host Chris Harris also proved impressed with the vehicle, stating after a review that he would likely be ordering a Model 3 Performance for himself.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Investor's Corner

Tesla gets its best analysis from Morgan Stanley as ‘it’s all about to change’

He maintained its ‘Overweight’ rating and the $410 price target Morgan Stanley had on the stock.

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(Credit: Tesla)

Tesla has gotten perhaps its best analysis from Morgan Stanley in quite some time, as the Wall Street firm claims that “it’s all about to change.”

That phrase could be used for both the company’s status and the world in general.

Analyst Adam Jonas said in a new note on Thursday to investors that Tesla could be one of the major winners in terms of the global transition from what it is now to what it will be.

He describes the global shift that will occur over the next few years:

“Have you interacted with a robot today? Have you even seen a robot today? No? Well, take a mental picture because it’s all about to change. When we meet someone who has never been in a Waymo or a Tesla Cybercab (which is most people), we frequently see a wince and a response such as ‘I’m not sure I’d feel comfortable getting in a car without a driver.’ We imagine going back in time to 1903 and asking people if they’d feel comfortable in an airplane.'”

The same technological revolutions that have occurred over the past 150 years will continue to occur again and again. We are on the verge of another, Jonas believes, as companies like Tesla are working on artificial intelligence tech, which includes changing the way we look at things like transportation and labor.

Jonas includes an interesting tidbit in his note about how humanoid robots could change wages, and how it could work into the advantage of Tesla, especially as it is developing its own Optimus robot:

“We estimate 1 humanoid robot at $5/hour can do the work of 2 humans at $25/hour, generating an NPV of approximately $200k/humanoid. 1 robot shaped car can potentially drive down cost/mile of a ride share vehicle to <$0.20 mile (1/10th human-driven ride-share).”

Jonas sees Tesla as a key player in how AI will impact things like manufacturing and various automotive industries, and he believes there is long-term potential for AI, robomobility, and even autonomous eVTOL platforms.

Tesla stock: Morgan Stanley says eVTOL is calling Elon Musk for new chapter

He maintained its ‘Overweight’ rating and the $410 price target Morgan Stanley had on the stock.

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Tesla stock gets crazy prediction from CEO Elon Musk

Musk says this is what it would take to be a millionaire from a Tesla investment right now.

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A red Tesla Roadster driving around a turn
(Credit: Tesla)

Tesla stock (NASDAQ: TSLA) got a crazy prediction from CEO Elon Musk recently, as the future of the company seems to be moving more toward AI, autonomy, and robotics, and away from automotive, which is what it has traditionally been recognized as.

Over the past few years, as Tesla has prioritized its Full Self-Driving suite, its rollout of a dedicated Robotaxi program, and the development of the Optimus bot, the company has gained a new reputation from analysts.

It was always looked at as a stock with tremendous potential by many Wall Street firms, some more than others.

The most bullish analysts, like Cathie Wood of ARK Invest, believe the company will eventually reach a multi-trillion-dollar valuation and a share price of over $2,000. Her $2,600 price target does not include any contributions of Optimus. Instead, it leans on Full Self-Driving and Robotaxi.

Tesla tops Cathie Wood’s stock picks, predicts $2,600 surge

Based on where the company is now, there are a lot of potential catalysts. The Robotaxi expansion, as well as affordable vehicles, its prowess in AI and Robotics, and its powerful energy division are all arguments for investment.

One X user said that a $150,000 investment in Tesla right now would likely make you a millionaire. Musk said he thinks that sentiment is “probably correct.”

He’s echoed this belief in recent earnings calls, including the one for Q2, which happened in July:

“I do think if Tesla continues to execute well with vehicle autonomy and humanoid robot autonomy, it will be the most valuable company in the world. A lot of execution between here and there. It doesn’t just happen. Provided we execute very well, I think Tesla has a shot at being the most valuable company in the world. Obviously, I am extremely optimistic about the future of the company.”

Tesla is trading at $316.50 at the time of writing, and has a market cap of just under $1 trillion.

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Tesla stock gets another analysis from Jim Cramer, and investors will like it

“Tesla is morphing right now. It’s in transition from being a car company to being a technology company.”

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Credit: CNBC Television/YouTube

Tesla stock (NASDAQ: TSLA) got its latest analysis from Jim Cramer, and investors will like what he has to say.

Cramer has flip-flopped his thoughts on Tesla shares many times over the years. One time, he said CEO Elon Musk was a genius; the next, he said Ford stock was a better play. He’s always changing his tune.

However, Cramer’s most recent analysis is of a bullish tone, as he talks about the company’s evolution from an automaker to a tech powerhouse. He made the comments on CNBC’s Mad Money:

“Tesla is morphing right now. It’s in transition from being a car company to being a technology company. You wanna be in there because the tech is worth a lot more than what it’s selling for right now. Don’t care where you bought it, care where it’s going to.”

Tesla has always been looked at by the mainstream media as an automaker. While that is its main business currently, Tesla has always had other divisions: Energy, Solar, Charging, AI, and Robotics. Some came after others, but the important point is that Tesla has not been an automaker exclusively for a decade.

It launched Powerwall and Powerpack in April 2015, marking the start of Tesla Energy.

But Cramer has a point here: Tesla is truly becoming much more than a car company, and it is turning into an AI and overall tech company more than ever before. Eventually, it will be recognized as such, more so than it will be as an automotive company.

Cramer’s comments also follow a recent prediction by Musk, who stated on X that he believes a $150,000 investment in Tesla shares right now would eventually turn someone into a millionaire:

Musk has said he believes Tesla could be headed to a serious increase in valuation. Eventually, it could become the most valuable company in the world. He said this during the Q2 Earnings Call:

“I do think if Tesla continues to execute well with vehicle autonomy and humanoid robot autonomy, it will be the most valuable company in the world. A lot of execution between here and there. It doesn’t just happen. Provided we execute very well, I think Tesla has a shot at being the most valuable company in the world. Obviously, I am extremely optimistic about the future of the company.”

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