Tesla may soon offer a cheaper or more powerful Wall Connector
Tesla insider Chris Zheng hints at a possible new charging option for the electric vehicle giant. Tesla may be considering releasing a new home charging option, based on a tweet from the very well-informed Tesla insider Zheng.
A new charging option could potentially make Tesla ownership even more appealing to a wider range of consumers, further solidifying the company's place at the forefront of the EV revolution.
In his tweet, Zheng mentioned two possibilities: A more affordable Wall Connector: Zheng suggested that Tesla might introduce a low-price, low-power Wall Connector, which would sacrifice some of its over-the-air (OTA) capabilities. This new charging option could respond to the growing competition in the Chinese EV market, where many Tesla competitors already offer similar products. However, Zheng disapproved of this potential move, stating it was "not fun."
Many owners today choose to charge with Tesla's mobile connector, a cheaper alternative. A cheaper Wall Connector could bridge the gap between the mobile connector and Tesla's more expensive home charging solution.
More Powerful Wall Connector
A next-gen Wall Connector with Cybertruck-style design: Another possibility Zheng mentioned is a new, next-generation Wall Connector featuring a design inspired by the much-anticipated Tesla Cybertruck. This upgraded Connector would have a total power of 21 kW, making it a more powerful option for Tesla owners looking to charge their vehicles.
A more powerful charging solution would likely be aimed at businesses that have access to more power and would like to provide a faster charging solution than the current Wall-Connector-based destination chargers offer. Last year Tesla introduced the ability for businesses to charge for charging through their destination chargers.
Implications of a New Charging Option
A new charging option could have several implications for Tesla and its customers.
Increased affordability: If Tesla were to introduce a more affordable Wall Connector, it could make the prospect of owning a Tesla more attractive to a broader range of potential buyers. This move could help Tesla gain a competitive edge in markets where price-sensitive consumers are more likely to opt for a more affordable EV charging solution.
Enhanced charging experience: A next-generation Connector with Cybertruck-inspired styling could create a more cohesive brand experience for Tesla owners. This new charging option could increase power and highlight the company's commitment to innovation and design.
Expanded market share: Offering new home charging options could help Tesla expand its market share in the global EV industry. By catering to various consumer needs and preferences, the company could attract a more diverse customer base and solidify its position as the leading EV manufacturer.
While Tesla has not yet confirmed these rumors, it's clear that any potential new charging options would play a significant role in the company's growth strategy. As the EV market continues to evolve, Tesla must stay ahead of the curve by offering innovative and affordable solutions that cater to the needs of a diverse range of consumers.
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Cox Automotive, the world's largest automotive services and technology provider, has released a forecast predicting that Tesla will lead the luxury market in Q1 2023 with sales of 180,000 units, a gain of nearly 40% from Q1 2022. As a result, Tesla is expected to post solid sales gains and surpass a market share of 5% for the first time. This marks a significant achievement for the electric car maker as it continues to gain market share in the luxury car market.
Improved Inventory and Lowered Prices to Spark Demand
By far, Tesla will be the top luxury-vehicle seller in the U.S. in Q1, with sales more than double that of BMW or Mercedes. This impressive performance is likely due to Tesla's innovative technology, sleek designs, and rising brand recognition.
Tesla's success in Q1 2023 is expected to be primarily driven by improved inventory levels and lowered prices. According to Cox Automotive, new-vehicle inventory levels have significantly improved from Q1 2022, which has helped stimulate sales despite elevated prices and high auto loan rates. Tesla also lowered its prices in the first quarter to spark demand.
Tesla's Record Quarter
Tesla's Q1 2023 sales are expected to reach 180,000, a record quarter for the company in the U.S. In addition, the company's growth trajectory continues to outpace its competitors, with Tesla's market share forecasted to surpass 5% for the first time. This puts Tesla on track to achieve its goal of selling 1 million electric vehicles per year, an ambitious target the company has set for itself.
Strong Outlook for Tesla
Cox Automotive's forecast is good news for Tesla investors and enthusiasts. The electric car maker has been expanding its production capacity to meet the rising vehicle demand. Tesla's Model Y, launched in 2020, has been a hit with customers, with the company ramping up production to meet the high demand. Tesla also plans to launch the Cybertruck, its first all-electric pickup truck, in 2022.
As more consumers look to switch to electric vehicles to reduce their carbon footprint, Tesla's growth prospects are expected to remain strong. The company's continued innovation in the electric car space and aggressive expansion plans could help it solidify its position as a leader in the automotive industry.
Other Key Take Aways from Cox
The release suggests a positive surprise for U.S. auto sales in Q1 2023. Still, supply constraints and affordability issues are expected to put a ceiling on what's possible for the rest of the year. Despite these challenges, Tesla's continued growth trajectory and strong performance in the luxury market are promising signs for the electric car maker.
General Motors is expected to finish Q1 as the top seller of new vehicles in the U.S., with sales volume forecasted to increase by over 15% year over year to reach 587,000 units. However, sales will drop from Q4 2022 when GM's volume hits 618,692.
The Bottleneck Has Passed, but Prices Are Too High
New-vehicle inventory levels have significantly improved from Q1 2022, up roughly 70% from the volume recorded in the early months of 2022. This has helped stimulate sales despite elevated prices and high auto loan rates.
Fleet sales for the entire year of 2023 are forecasted at 2.2 million, up 23% from 2022, when 1.8 million units were sold to commercial buyers.
Cox Automotive has adjusted its full-year new-vehicle sales forecast to 14.2 million, an increase of nearly 3% from 2022.
Elevated prices and average auto loan rates above 8% are expected to hold back new-vehicle sales for the rest of the year. The typical new-vehicle loan payment was more than $750 a month in Q1, which is out of reach for many households.
Tesla's sales forecasted to surpass 5% market share in Q1 2023 is a significant milestone for the electric car maker. Tesla's success in the luxury market is due to its innovative technology, sleek designs, and raising brand recognition. In addition, the company's improved inventory levels and lowered prices have helped stimulate sales despite elevated prices and high auto loan rates. With a record quarter forecasted for Q1 2023, Tesla's outlook remains strong, and the company continues to lead the charge in the electric car market.
Tesla is updating its app to show the vehicle's planned path to its destination
Not a Tesla App
Tesla is consistently working to improve its mobile app experience for users, and now they're adding another new feature. Building on the features unveiled last year, Tesla is now adding the ability to view the route the vehicle is taking toward its destination. Thanks to Max for the tip!
When using GPS navigation, the app directly displays the driver's destination, distance, and estimated arrival time (ETA) on the main screen. By tapping into the navigation section, users can access a map that shows the vehicle's location, nearby Superchargers, and destination details. The app also displays the vehicle's expected state of charge upon arrival at the destination, providing greater transparency for owners regarding battery consumption. The one missing piece was the suggested route the vehicle is taking to reach its destination. That is now being added to the app and is available for select users.
In the last Tesla app update, v4.19, the company introduced a new API called "nav route." This API looked to go unused at first, but this new feature appears to leverage this API to display the path the vehicle will take, much like the in-car navigation system.
Building on Latest Update
The October 2022 update brought a host of additional features to the Tesla mobile app, enhancing convenience for its users. For instance, the app now shows more information about the media playing in the vehicle, such as song title, artist, and destination details.
The automaker rolled out major revisions to its Energy app in its cars, which displays the battery's state of charge upon departure and arrival, as well as the main causes of battery drain. Tesla started bringing this functionality to the app for older Model S and Model X vehicles, and will hopefully soon expand it to other vehicles.
TeslaFi is a service that logs your drives and charging sessions so that you can later refer back to them. We highly recommend checking them out if you use your car for business trips and would like to keep track of reimbursements, if you like to see how much you spend on charging or if you just love statistics. View their about us page and see everything they have to offer!