Tesla tries to overshadow possible earnings weakness with new 510 HP Model 3 performance
Tesla launched the latest version of its Model 3 Performance on Tuesday, just in time for what promises to be a tense Q1 earnings call. First is the car; The automaker claims it is the most powerful electric sedan it has ever produced, boasting an advertised top speed of 163 mph and a 0-to-60 mph time of 2.9 seconds. Tesla credits its latest drive unit for delivering significant benefits compared to Previous Model 3 performance. Tesla targets a new sedan model “a perfect, high-performance daily driver.” The Model 3 show will start at $52,990 before incentives. Tesla was certainly encouraged to launch the sedan today given what was likely to come a disastrous Q1 earnings call.
Tesla claims the new Performance 4DU transmission produces 22% more continuous power, 32% more peak power and delivers 16% more peak torque than its predecessor. This additional power is coupled with a 2% reduction in energy consumption.
It’s not all straight-line speed, as the sedan features Completely new active shock absorbers and an updated tracking mode. The Model 3 Performance’s active suspension system has three preset modes: Standard, Sport and Track. Depending on which setting is selected, the active suspension prioritizes ride comfort or body control. The sedan will also feature Track Mode V3, a unified system that integrates “engine control, suspension control, powertrain cooling and Tesla’s Vehicle Dynamics Controller.” The Track Mode user interface has also been revised to provide drivers with more data.
However, nothing can frustrate CEO Elon Musk like a bad earnings call. Musk has almost shed tears during the Q3 2023 earnings call. Q1 2024 is expected to be difficult today. Company stock price 40 percent off since the beginning of the year. Tesla is expected to announce Sales fell for the first time since 2020.
On the Q3 2023 call, Musk focused on Cybertruck rather than addressing investor concerns. Today’s launch of the Model 3 Performance is no different. Do not misunderstand me. The sedan’s new aerodynamic body looks cool and Tesla claims it has reduced drag by 5%, but Tesla needs to be clear about its path forward. It’s impossible to ignore reports that the long-awaited Model 2 has been canceled by claiming that employees are lying to the media.
