Mar 28, 2017 05:34 AM EDT

Tesla Is Gearing Up To Crush Best-Selling Luxury Sport Sedans With The Model 3

Last year, Tesla CEO Elon Musk proudly unveiled its most affordable car, the Model 3. The vehicle, priced at $35,000, comes with the much-lauded features that consumers have come to expect from the company. According to reports, Musk is expecting the Model 3 to crush the competition, particularly two of the best-selling luxury sport sedans in the country.

According to Bloomberg, Musk is thinking that not only can he match the performance of BMW and Mercedes, but he can also outsell them in the U.S. BMW is the maker of the 3 Series, while Mercedes is behind the C Class. Both luxury sedans have enjoyed stellar sales in the country, and both are at the same price point as the Model 3.

Musk has begun preparations to cope with high demand for the Tesla Model 3. It was reported that the CEO has disclosed detailed production targets in a call with investors last month. Musk said that the company is placing orders with suppliers for 1,000 cars a week in July, 2,000 a week in August, and 4,000 a week in September.

Moreover, Tesla is planning to increase production to 5,000 cars a week by the end of the year, and the company is said to be aiming for 10,000 cars a week by the end of 2018. Currently. Tesla is able to make about 2,000 Model S and Model X cars in a single week.

Over the recent weeks, Musk has been taking to Twitter to get fans excited about the upcoming vehicle. On March 24, the CEO said that the Model 3 is “just a smaller, more affordable version of Model S” with less range, power, and fewer features. He also revealed that the car will have a dual motor option, but Tesla won’t be offering it until 2018.

Musk also confirmed to his Twitter followers that the Model 3 will be compatible with roof racks and that the car’s trunk can fit a large cooler. He also said that the vehicle will have autopilot capabilities and will be capable of self-driving.

For more, check out Jobs & Hire’s report on Samsung, which is aiming to win company trust with the Galaxy S8.

Get the Most Popular Jobs&Hire Stories in a Weekly Newsletter
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics