Are you also waiting for the Model Y to arrive on Taiwanese soil? Well don’t hold your breath. In view of surging global demand, Tesla is now forecasting a delivery date sometime in September at the earliest. In other words, the Model Y allocated for 3Q21 has been all but sold out.
Tesla’s electric SUV Model Y has been selling like hotcakes since its release, and Taiwanese fans have been clamoring for a release date on social media almost daily. Daily rumors stating that the Model Y will be available for sale in Taiwan within two months, however, appear unlikely given the Model Y’s global sales figures.
The Long Range version of the Model Y is the most in-demand vehicle at the moment, with a driving range of up to 520 km, a 0-60 mph time of about 4.9 seconds, a staggering 1,925 liters of storage space (four times that of the Model 3), and a starting retail price of US$52,490 – all of which make it the most competitive battery electric SUV.
In early May, orders for Tesla vehicles outpaced the company’s 2Q21 production capacity. Now that the Model Y Long Range has emptied Tesla’s 3Q21 production capacity ahead of time, Musk’s prediction last year that the Model Y will overtake the Model 3 as the company’s bestselling vehicle has been proven true.
▲ The Chinese-manufactured Model Y is starting to overtake the Model 3 in terms of sales (Source: TESLARATI)
Skyrocketing demand also brought about a price hike for the Model Y this year (an increase of $3,500 as of now). At the same time, the manufacturing cost of the Model Y has seen a further drop thanks to its most significant change, which is the removal of its radar sensors in favor of the “pure vision” Autopilot system.
Model Y is the first vehicle among Tesla’s offerings that was profitable for the company the quarter it became available for sale. As the retail price increased and cost decreased for the Model Y, Tesla will likely receive a shot in the arm in terms of financial health and remain profitable for eight consecutive quarters.
Musk once claimed that Model Y will become the highest-selling vehicle worldwide in 2022. A daring goal, to be sure, since the current bestseller is Toyota Corolla, which sold more than one million units in 2020. Will the Model Y successfully usurp the throne?
Tesla stands a good chance at raising the yearly production volume of Model Y above two million units next year if Tesla’s Gigafactories in Berlin and Texas are able to kick off production in January 2021, and Giga Shanghai is able to expand its production lines. According to Musk’s announcement on Tesla Battery Day last year, Tesla will – thanks to its in-house battery manufacturing operations – raise its yearly battery production above 100 GWh, enough to power about 1.3 million Model Ys.
Taiwanese Tesla fans are, needless to say, beside themselves for a domestic release date. They will unfortunately be disappointed to know that, regarding Tesla’s current production capacity, Taiwan is unlikely to see a domestic release in the short run. In the best-case scenario, Taiwan will stand a chance at procuring some vehicles once Giga Texas ramps up manufacturing operations.