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posted by martyb on Tuesday July 28 2020, @06:10AM   Printer-friendly
from the ro-o-o-a-a-rrrrrr^W-whir-r-r-r dept.

Last week Monday VW opened up its pre-orders list for the ID.3, its first all-electric car built on its MEB platform. A week later, and 37,000 customers have put €1000 [~1,176 USD] in advance already.

There are a couple of reasons for the apparent enthusiasm. First the range, going from an official 330 km [~200 mi] (45kWh battery) standard range over 420 km [~250 mi] (58kWh) medium to 550 km [~330 mi] (77kWh) for the long range battery. Practical range is estimated at 260, 330 and 430 km. [~156, ~200, and ~260 mi],

Second the price. The standard version comes in at €21,000 [~24,700 USD] in Germany (€30,000 [~35,300 USD] list price, €9,000 [~10,600 USD] subsidy). Medium range has a list price of €36,000 [~42,300 USD], for the maximum range the price is not yet known, but below €50,000 [~58,800 USD].

The car is rear-wheel driven by an 150kW motor, with top speed limited at 160 km/h [~100 mph]. Torque is 310Nm, delivering 0-60 kph [~37 mph] in 3.7 seconds (1st version; the standard version 9 seconds).

No talk about autonomous driving though: only lane assist and adaptive cruise control are provided.

Delivery of the car starts in September. There are no plans to bring the ID.3 to the US. Volkswagen said it is on track to deliver 70,000 ID.3's by year's end, and an additional 30,000 upcoming ID.4 SUVs along with that. Tesla, in contrast, sold more than 90,000 of its cars last quarter alone.


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  • (Score: 2) by quietus on Wednesday July 29 2020, @11:54AM (1 child)

    by quietus (6328) on Wednesday July 29 2020, @11:54AM (#1028074) Journal

    That's my point: big investors will not simply use an index fund -- they're the ones paying for analysis, picking and choosing specific investments.

    In January, Tesla (then at $641 per share) traded at about 43 times its estimated earnings next year, while GM traded at 5.3 times; at the same time, Tesla's global sales were only 3 percent of those of GM and Ford combined. (source: Financial Times, Tesla’s stock price streak leaves analysts struggling to keep up, Jan 31)

    On July 17, Tesla shares traded at $1790 per share. Shares in General Motors, which has its own electric vehicles, traded at less than 10 times earnings. Based on first quarter earnings per share of $1.24, Tesla traded at more than 1,200 times earnings. (source: Financial Times, Lessons from Tesla’s remarkable market run, July 17)

    That should give some pause for thought, if you're a common sense investor.

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  • (Score: 0) by Anonymous Coward on Wednesday July 29 2020, @04:16PM

    by Anonymous Coward on Wednesday July 29 2020, @04:16PM (#1028158)

    Remember that a.) the market is not rational and b.) stock value is, in theory, based on future profit growth potential. General Motors, Volkswagen, Toyota are consistently profitable but their profits are largely stable. Tesla is set to work like Amazon, reinvesting profits into growth for a long stretch and then growing profits.

    Now the silly bit is that even with impressive profit growth, I don't expect Tesla profitability to match Toyota or GM for ten years or longer. But maybe I'm wrong, and between their hot-selling electric cars and their home battery and home solar systems they are poised for meteoric growth.