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88% of Tesla Model 3 Buyers Don’t Want to Drive The Car (TSLA)

Tesla Motors Inc (TSLA)

Tesla Motors Inc ‘s Model 3 continues to generate a great deal of enthusiasm with pre-orders nearing 400,000. Not much is known about what features the Model 3 will offer, but a report from Teslarati has tried to summarize what the buyers are actually looking for in their Model 3 based on the data from Model3Tracker.info.  Not surprisingly, 88% of deposit holders don’t want to drive the car, they want it to drive itself.

Tesla Motors Inc (TSLA) Model 3

88% Tesla Model 3 Buyers Want Autopilot

As per the data compiled by the crowd sourced database Model3Tracker.info, 80% of the reservation holders are ok with paying extra for Supercharger access while 22% want the standard rear wheel drive configuration, and 88% wish to have the Autopilot.

Model3Tracker.info used a sample of 1637 entries from Model 3 reservation holders, to come up with a report detailing on how the EV firm may prioritize the production of the Model 3.

Battery Size: there is no surprise that the Model 3 owners will want a larger battery pack. Though the Model 3 is claimed to give atleast 215 miles of range, 75% are willing to get a bigger battery pack. Since, many will be buying an electric car for the first time, so they don’t mind paying extra for a peace of mind.

Drivetrain and Performance: the Model 3 will have a standard rear wheel drive configuration, but majority of the reservation holders want “D: dual motors and all-wheel drive. 78% want a Model 3 <insert battery size>D,” says Teslarati. More than a third want the ability to enjoy “more spirited driving” while 15% are wishing for some sort of Ludicrous.

Roof option for Model 3: almost 72% of the reservation holders are willing to pay extra “to have an all glass panoramic roof seen on the Model 3 prototypes at the reveal event” says Teslarati. Tesla CEO – Elon Musk – has hinted of towing ability with the Model 3, but only 15% are interested in a tow-capable hitch.

Autopilot feature: Large number of the Model 3 reservation holders want the Autopilot feature, and for the same, are willing to pay extra. Around 88% of the polled via Model3Tracker.info wanted Tesla’s self-driving feature. Tesla Motors Inc is continuously improving its Autopilot using fleet learning, and by the time the Model 3 hits the road in late 2017, Autopilot may get fully autonomous.

Wheels, Interior, and Sound; the remaining options, as per Teslarati, are more or less equally split excluding the wheels. Around 78.5% of the polled wanted the standard wheel offering.

Fiat boss on Model 3

Unlike others, Fiat Chrysler boss – Sergio Marchionne – is very open on what he feels, and recently he opened his mind on the Tesla Model 3. On Friday, speaking to Automotive News Europe at an FCA meeting, it got cleared that he is not charmed with the Model 3

Hinting on Tesla’s history of production delays, the executive said, “I am not surprised by the high number of reservations but you have then to build and deliver them and also be profitable.” Tesla missed the production target on the Model X by almost two years from the original 2013 target.

Marchionne does not believes Tesla to make a profit on the Model 3 as it just costs $35,000 (base price). Or, it may be that he is interested in knowing how Tesla plans to make money from the car. If Musk “can show me that the car will be profitable at that price, I will copy the formula, add the Italian design flair and get it to the market within 12 months,” he told.

At 1.35 pm EDT today, Tesla shares were up 0.33% at $252.68. Year to date, the stock is up over 6% while in the last one-year, it is up almost 22%. The stock has a 52-week high of $286.65 and a 52-week low of $141.05.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.