Tesla Begins Offering Model Y Test Drives
As Tesla continues to ramp production on Model Y, they now appear ready to start raising awareness and driving demand for their newest vehicle. Tesla recently lowered prices on the Model Y by $3,000, and now Tesla Daily has received an email announcing availability of Model Y test drives.
Here is the email in its entirety:
Model Y is now on display in your local showroom and available to test drive.
With up to 316 miles of range, plenty of storage and versatile seating, Model Y is the ultimate combination of performance and utility. Explore updated pricing on all trims and experience an immersive view on your test drive with Model Y’s full-length glass roof. Learn more
Schedule a test drive with Model Y or experience our award-winning Model S, Model X or Model 3 during your visit with a self-guided appointment.
While bearish investors may interpret this news as a lack of demand, more bullish investors are likely to interpret the recent moves as a sign of accelerating production rates.
In the case of Tesla's Model 3, the company began offering test drives in July of 2018. In hindsight, this coincided with a significant increase in quarterly deliveries. In Q2-18, Tesla delivered 18,500 Model 3s, growing quarterly deliveries to 56,000 in Q3-18 after beginning test drives.
While circumstances for the launch of Model 3 and Model Y are different, the Model 3's history is interesting to consider in this context nonetheless.
For more, please see the included video.
➤ NY state announces significant investment into electric vehicle infrastructure
➤ Baird analyst Ben Kallo increases price target on TSLA stock
➤ Further analysis on number of users holding TSLA in Robinhood accounts
➤ Tesla updates solar referral program
➤ Update on the Science Channel’s statement that Tesla is producing 13 millions cells each day at Giga Nevada
Disclosure: Rob Maurer is long TSLA stock and derivatives.