Reference no: EM131397917
1. Price - Pricing strategy, actual prices and discounts, comparison to competition. (1-2 pages)
2. Distribution Channels -Proposed channel strategy, including, where applicable, use of distributors, retailers and/or the internet. (2-3 pages)
The previous Tesla car, Model S was quite popular among Electric Vehicle (EV) fans. Now, with Model 3, Tesla will be offering the same quality, luxury and brand for 1/3 of the price of Model S. This will definitely help the company to dominate the EV industry and strengthen its brand.
In this paper, we compare and contrast Tesla model 3 to BMW i3 and Chevrolet Bolt. Some specifications between Tesla model 3, BMW i3, and Chevrolet Bolt have been shown in the table below:
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Tesla Model3
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BMW i3
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Chevrolet Bolt
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Price
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$35,000
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$43,300
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$37,500
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Seats
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5
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4
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5
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EPA range
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215 miles
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81 miles
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238 miles
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Battery size
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60 kWh
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22 kWh
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60 kWh
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Charging rate
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9.8 kWh
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7.7 kWh
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7.2 kWh
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Acceleration
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0 to 60mph in 6 sec
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0 to 60mph in 6 sec
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0 to 60mph in 6.5 sec
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Top speed
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125mph
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93mph
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91 mph
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As we can see from the above table the Model 3 stands out in couple of areas: top speed and battery charging rate.
With Electric cars, range is important factor. While many current electric vehicles (EV) come to market with about 100 miles of range, more than enough for the average daily commute, drivers are still prone to range anxiety. However, Chevrolet Bolt and Tesla Model 3 leaped ahead of the current crop of cars, with Chevy boasting around 230 miles for the Bolt and Tesla coming up with a figure of 215 miles for the Model 3.
But most people expect Chevy cars, the Bolt included, to be affordable but not fancy. On the other hand, the Model 3 is fancy, luxury and totally different looking car. So, we could say that Model 3 is in a luxury business and Chevrolet Bolt is in a car business.
The BMW i3 is the first dedicated electric car from a full-scale well-established luxury brand; it's stylish if slightly odd looking. As we can see from above table, BMW i3 is lacking in many areas compared to Tesla Model 3: the batter size is smaller, in turn, the travel range at full charge is shorter, the price is more expensive, the speed is slower and it can carry only 4 people.
Yet we believe the argument that "what's good for one car is bad for the other," is shortsighted. While the Chevy Bolt, BMW i3 and Model 3 are competing against each other, they are in a much bigger competition with the millions of ICE (internal combustion engine) cars that are sold every year.
Electric cars have many advantages over ICE's, such as lower fuel costs, less pollution, a quieter ride, and even better acceleration. Yet so far, their sales have been constrained by two factors: Cost and range. The Tesla Model 3 are attempting to improve upon both issues, and all indications point to success
1. Price - Pricing strategy, actual prices and discounts, comparison to competition. (1 - 2 pages)
2. Distribution Channels - Proposed channel strategy, including, where applicable, use of distributors, retailers and/or the internet. (2 - 3 pages)
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