While the public can now lease a Tesla Model Y for $499 per month, it is still pricey for most Americans. And this is what CEO Elon Musk seeks to fix.
"The thing that bugs me the most is that our cars are not affordable enough. We need to fix that," the CEO said during the second-quarter earnings call. According to Clean Technica, Musk aims to maximize car sales growth while making the Tesla cars "as affordable as possible."
This was Elon's response to how he finds the balance between Tesla's mission to fast-track the "world's transition to sustainable energy" and his goal to lead the industry.
This would make everyone interested in Tesla, and soon it could compete against Fords, Toyotas, and other economy cars. However, creating affordable electric vehicles would be a huge challenge, particularly with batteries, which vital in Tesla's product development.
What to consider when targeting low-income market
If Tesla is seriously considering including low-income families in its market, it must consider that paying for the car may mean they need to sacrifice their house rent. Earning about $22,000 a year is not much, especially when there are kids in the family.
While it is not Tesla's responsibility to help the poor, a company that wants everyone to access its electric vehicles would greatly benefit if it successfully resolved the costing challenge.
Not only will its sales increase, but also help Tesla to successfully meet its goal to have a world run by sustainable energy. And with a CEO like Elon Musk who leads the company with his heart, it is not far from reality. After all, offering a car lease is a good start.
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