If You Invested $1,000 In Tesla When Deliveries Of Original Model 3 Began In 2017, Here's How Much You'd Have Now
Tesla, Inc. TSLA just launched its Model 3 refresh, codenamed Project Highland, in Europe, with deliveries expected to begin in all geographies in the near term.
Model 3 – Tesla’s Staple EV: The Model 3 has the distinction of being Tesla’s first mass-market model and first deliveries began on July 7, 2017. At debut, the EV was priced at $35,000 and it promised a range of 346 km and had a 0-60 kph acceleration time of 6 seconds.
The Model 3 quickly climbed to the top of the EV charts as it enticed customers with its stylish design, affordable pricing, and climate change appeal.
That said, Tesla went through a harrowing time amid the ramping up of production. Tesla CEO Elon Musk even considered taking the company private as the company was hit by a severe cash crunch in the early days of the Model 3 launch.
Until the launch of the Model Y SUV in 2020, Tesla derived much of its volume from the Model 3 car. The latest quarterly numbers show that Tesla delivered 446,915 Model 3/Y EVs in the second quarter, accounting for 95.9% of the total volume.
See Also: Best Electric Vehicle Stocks
Refreshing Update: Earliest rumors of Tesla working on a major Model 3 revamp began doing the rounds in Nov. 2022 and the refreshed Model 3 was officially unveiled on Thursday. Information shared on social media showed that Tesla’s creative manager for design Julien Bilodeau traveled to Norway to present the Model 3 refresh.
The range of the refreshed model is about 12% higher than the original version and 50% of the parts are new, according to Tesla influencer Sawyer Merritt. It also has a redesigned interior with new door cards and comes in two new colors, including ultra red and stealth gray.
The Model 3 refresh is also about 2-12% more expensive than the original Model 3 in various geographies.
Tesla Returns Since Model 3 Launch: A $1,000 invested in Tesla in early July 2017 would have fetched roughly 48 shares (based on the split-adjusted closing price of $20.88 on July 7, 2017).
The same 20,88 shares would be worth $12,360, a 1,136% return over the six-year period.
In premarket trading on Friday, Tesla stock edged down 0.18% to $257.61, according to Benzinga Pro data.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Photo by canadianPhotographer56 on Shutterstock