Tesla is going to release a compact vehicle next year. Should you wait to buy a Tesla until this vehicle is ready?
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Tesla Compact Vehicle -VS- Model 3 or Model Y
Should You Wait To Buy the Tesla Compact Car Instead of a Model 3 or Y? This is a big question many people have, and for good reason. Elon Musk has said the compact Tesla will be half the cost of the Model 3 and Model Y platform. It seems like it's worth the wait for this compact vehicle instead of buying a Model 3 or Model Y right? Well, not so fast, let's take a deep look at this question and see if it's worth it for you to wait.
If money is the primary driver for you and nothing else matters, then yes, waiting for the Tesla compact variations is probably the right thing to do. However, for most people, money isn't the only factor in buying an electric vehicle. Other things matter like range, performance, and size and space.
The advantage of buying a Model 3 or Model Y right now is that the price of these vehicles is at an all-time low. Yes, the price could go lower, but I think we've reached the bottom point - barring an unfortunate recession and U.S. dollar default, which I don't think will happen.
The Model 3 and Model Y are large vehicles for the sedan and SUV segment. They each provide great performance and space for their segment. The Model Y in particular has an amazing blend of performance, space, and range.
You will not find the compact versions of either of these vehicles having as much range as the Model 3 or Model Y, and I believe it won't be a small difference - it will be a big difference. So, if you can afford the payments on a Model 3 or Model Y, and you've been wanting to get one for a while, I don't think you can go wrong getting one now.
The Model 3 and Model Y will be bigger, more durable, and more safe than the compact variations. They will have more space. They will be more performant. They will have more range.
Let's take a look at why it might be a good idea to wait for a compact version.
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Is the Compact Vehicle Worth the Wait?
The compact versions of the Model 3 and Model Y are going to be much smaller versions of each vehicle. Think of the size of a Honda Fit - it's a much smaller vehicle than the Model 3 and each of these vehicles will be smaller, lighter, and not as bulky. That means they won't be able to withstand an accident as well as the Model 3 or Model Y. I still think they will be very safe vehicles, just not as able to withstand a collision.
The software will be the same whether you get the Model 3, Model Y, or a compact version of these vehicles. The vehicle will be able to function as a Robotaxi regardless.
The range will be less in the compact versions. I expect around 240 to 250 miles of range in the compact 3 and Y. This is definitely less than the 272 miles of range you get in the Model 3 RWD and yes, there will be battery degradation that takes your range lower than that.
Still, if you can charge at home and mostly use the vehicle for daily commuting, this most likely won't be an issue. You'll also be able to fit your vehicle into tighter spaces, which will make parking easier. My old Honda Fit was a lot easier to park than my Model 3 RWD, but parking the Model 3 is still easy with all the camera, sensor, and vision assistance.
The compact versions of the cars will be less expensive, for sure. I think we'll see high $28,000 for the compact 3 and around $34,000 for the compact Y. That's definitely less than the alternatives and in a high interest rate environment, it will be less expensive. The compact versions will be slower as well, most likely a 6 or 7 second 0-60 mph time and probably a lower max miles per hour.
The Model 3 and Model Y as they are right now give you can edge in space, durability, range, and performance. They also cost more. The compact versions will cost less, and you will get less - but that might be enough for you. The choice is yours!
Would you wait for a compact Tesla vehicle before getting one?
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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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