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Model Y Long Range Wait Times
The Tesla Model Y long range, Tesla's flagship vehicle, has seen its wait times increase by about 2 months and is pushed back to March-May, 2023 (from Feb.-March 2023). This signals strong demand for the best-selling EV SUV and signals that Tesla's price cuts are having the desired effect.
Consumers are eager to get their hands on the Tesla Model Y due to its spacious interior, long range (330 mile EPA), and strong performance and acceleration despite being an SUV. The Model X AWD is also seeing increased wait times and demand.
Tesla's biggest challenge for deliveries used to be supply chain shortages and challenges, but now it is logistics and getting all of its vehicles where it needs to go. For instance, exporting from Giga Shanghai is proving challenging with more and more vehicles being moved and needing more and more boats.
With this strong demand, Tesla is likely to have another record quarter in production and deliveries. I see around 470,000 vehicles produced and about 445,000 delivered. Tesla is trying to smooth out their end of quarter deliveries to narrow the gap between production and deliveries.
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Wait Times for Other Tesla Vehicles
Another interesting thing about Tesla's vehicles is that when you look at local inventory, there are now cars labeled as "coming soon", which means in transport to the local location. This will help provide a wider selection of cars for earlier delivery.
These wait times are going to continue as long as the IRA tax credit is unclear about the battery sourcing requirements. For instance, will Tesla's LFP batteries in the Model 3 RWD be eligible for the tax credit? If not, Tesla will have to lower the price, probably below $40,000.
Tesla's other vehicles have wait times, but none of them are at the level of the Model Y long range. Elon Musk has even said that he wants to reduce the wait time for Tesla vehicles and that it is unacceptable to have to wait months and months to get a Tesla.
Here are the current wait times for Tesla's other vehicles:
* Tesla Model 3 RWD: Feb-Mar 2023
* Tesla Model 3 Performance: Feb-Mar 2023
* Tesla Model Y Long Range: Mar-May 2023
* Tesla Model Y Performance: Feb-Mar 2023
* Tesla Model S Long Range: Feb-Mar 2023
* Tesla Model S Plaid: Feb-Mar 2023
* Tesla Model X AWD: Feb-Apr 2023
* Tesla Model X Plaid: Feb-Mar 2023
Of note is that the Tesla Model X AWD has a wait time that extends until April 2023 signaling that that vehicle also has strong demand.
Wait times are likely to stay short for Tesla's vehicles that are more expensive, but if Tesla can execute well on Project Highland and get the cost of the Model 3 down further, the demand for that should also increase, just like the Model Y long range.
Is the wait time for the Tesla Model Y long range a good thing? Would you get one?
In Related News: Tesla not opening a Giga factory in Mexico yet
High demand leads to extended wait time for the Model Y Long Range. A testament to Tesla's innovation and consumer desire for electric vehicles. #TeslaModelY #ElectricVehiclesFuture @AGuyOnlineHere https://t.co/bZbmB6Pw5C— Torque News (@torquenewsauto) February 2, 2023
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.
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