today we're getting into the latest Tesla news including huge changes for the Tesla tax credit model y continuing its dominance cybertruck updates from Tesla and more so let's get into it and a special thanks to factor for sponsoring this video first up today another record for Tesla the model y keeps living up to the predictions that Elon Musk had for it years ago that it would become their bestselling car outselling all of their others combined he also predicted that it would become the bestselling car in the world and this has come true that statistic is particularly impressive because it is considering vehicles of any type even Legacy gas vehicles are not beating the model y on global sales this is in part because the model Y is standardized in all markets but it continues to grow when looking at EV specifically in August Global plug-in Vehicle registrations were up 45% compared to the previous year plugins represented 18% of the market and Battery electric vehicles were 133% of that as expected the the top seller again was the model Y and this makes it Tesla's best off peak month ever for that car it wasn't an end of quarter push that drove this so September could be even more impressive for August Tesla sold 11 15,8 185 model wise solidly beating out the byd song in second place with 57,6 3 another thing to note here is that while the byd song is in second place that includes both the Bev and phev sales of that car the model y of course is ex exclusively battery Electric in third is the model 3 with 48,8 15 sales and then byd takes the next four slots globally year to date the model y shows dominance even more with 776 th000 sales from January to August next up with less than half of that is the byd song at 368,000 sold again combining Bev and phev the model 3 is in third just under that with 364,000 3 sold what's interesting to note is that byd while in second for a particular model is in first for their brand as a whole they have many different phev and Bev options and some are very cheap with very short ranges Tesla has a much different Focus for now and these factors among others have put byd on top byd sold 261,000 total EVS including pH EVS in August and Tesla sold 170,171 GAC Aon is in third and VW in fourth year to date it's a similar story as well for many though the most important vehicle is battery electric this is the true disruptor since it doesn't rely on gas in any way and Tesla still Leads Here year to date January through August they're at 1,779 and Bud is just under 900,000 there are always many ways to look at this data but we're clearly seeing interest in EVS continue to grow with Tesla right at the top especially with new cars like the Cyber Tru and their nextg platform this is only expected to grow but it's great to see competition from others like byd next up to date it's well known that there are great tax credits available for EVS these come at the federal state and utility level and often times can be stacked depending on your situation right now one of the best states to buy a Tesla in happens to be Colorado because there can be over $220,000 of available incentives bringing the recently dropped prices of the model y down to under $30,000 for the model 3 this can end up under $20,000 in any case one piece of this has been the $7,500 federal tax credit it's great but a big problem with it is that it's a tax credit while it's great to subtract $7,500 off the price of an EV in reality it's a longer equation since that credit comes off of your tax liability if you don't owe that much the credit isn't fully available to you on top of that you buy the car at its full price and often finance that then you see the savings sometimes a full year later something great is happening for 2024 though and this is changing in a big way quote starting in January EV car Shoppers won't have to wait until tax season to pocket the incentive worth up to $7,500 instead the credit will be available as cash in hand on the day of purchase and it'll be available regardless of the size of a customer's tax bill this was the original intention but the IRS needed time to figure out the Kinks in the system this new system was just announced all requirements still apply the car must be assembled in North America and there are strict battery sourcing requirements that get stricter each year for now that means some cars still won't qualify on top of that there are requirements for an individual's income however once you qualify it will be far easier than before Quote dealers will register with the IRS and confirm that a vehicle qualifies for the tax credit using the vehicle identification number for the customer quote they transfer the tax credit to the dealership and exchange the dealer will either give them that much in cash or as a down payment toward the vehicle the dealer will submit documentation to the IRS and the IRS says dealers will be reimbursed promptly within 72 hours or so most importantly here this credit is available regardless of what your tax bill is you could owe $0 in taxes and still get $7,500 off of your purchase in practice this will mean that if you qualify you can buy a model 3 at $38,900 and see that $7,500 come off right away leading to a purchase price of $31,900 from Tesla for the model y this will take $ 43,9 and make it $ 36,990 for the long range it will take $ 48,00 490 and make it $4,990 this is a very big deal many customers need to see that $7,500 right away and previously needing that tax liability could have meant that you had to sit between an income minimum and maximum on top of this it will make a big difference when financing a car right now Tesla Finance rates are extremely high around 6.49% depending on how you work things out in the past you may have financed that $7,500 in the right scenario you would then owe $7500 $100 Less in taxes at the end of the year but you would be paying 6.49% on that on the vehicle purchase reducing the savings you actually realize I'm very excited to see this point of sale change and I think it will make a big difference for Ev adoption tax credits are cool but very confusing now they're about to get much easier to where your Tesla will actually cost $7,500 less the day that you buy it before we go any further I'd like to thank today's sponsor factor factor makes meeting your nutrition goals easier than ever by delivering fresh never froze dietitian approved meals right to your doorstep I'll get into the specifics but I can't emphasize enough how much the never Frozen part of this makes a difference I've never found a pre-made meal situation quite like factor and their meals truly save you time and are delicious their chefs make great meals using ingredients with Integrity if you find yourself too busy to cook this fall Factor allows you to skip the extra grocery store trip skip chopping prepping cleaning up and more all while getting great flavor and nutrition these meals are ready in Just 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head to factor75.com or click the link below and use the code Ryan Shaw 50 to get 50% off your first Factor box again that's factor75.com with code Ryan Shaw 50 for 50% off your first box next up today when Tesla announced the new model 3 they left out the performance model entirely they made no mention of this car when it will come out or why it isn't out yet but reportedly insiders say it is coming this has led to a lot of speculation as to what this car will be and when it showed up in documentation it had an indicator that Tesla typically used for their Tri motor plaid Vehicles it would be great to see a tri motor model 3 and it still could come but for now it seems to be dual motor at least according to this documentation still it is expected to bring better performance than before and we expect there to be a reason that Tesla has been delaying releasing it they must be still working on something they're upgrading and it isn't just an easy overnight change in any case we haven't heard anything officially on this car even in the markets where the new model 3 is shipping this month but over in Germany the Tesla app is showing existing model 3 Performance orders they are expecting to deliver in April to July of next year while this photo shows an older model 3 design it's expected that this is our first hint of deliveries of a project Highland performance model 3 first the model 3 long range and dual motors are expected to launch in the US in early 2024 after already launching in Europe and other markets in October and a few months after its launch in the US we should see the performance model get first deliveries in those markets I wouldn't be surprised if for the 2024 launch of the model 3 in the United States they announced the performance from the get-go next up today first photos of the new model y non Juniper refresh in China have surfaced online previously we learned this refresh would come with darker wheel covers and now we're seeing the Gemini Wheels underneath are a darker color too pre- refresh both were silver then this photo of the Interior shows that there will still be stocks for all functions as before so that hasn't changed this may seem odd considering the refreshed model 3 no longer has stocks and drivers instead have to shift on screen but Tesla appears to be waiting for a full refresh of the X exterior as well before they make that change we can also see the new light bar in this photo here they have the top portion of the center console covered up but a later photo shows that they haven't changed much there as well for most customers this won't mean too much but it's cool to see Tesla adding the LED light bar on the model y now that it comes on the model 3 next up today the latest for cybertruck production and updates from Tesla first Tesla has created an official cyber truck account on X and they have now posted first is a repost of a video Tesla did live streaming testing the two cyber trucks we've seen in Mexico they are testing them off-roading in Baja and the employee streaming detailed what they are doing they're in Mexico with two release candidates doing off-road durability testing and each are straight from the factory aside from fivepoint Harness race seats as we speculated with images of this truck they are using a starlink Mobility unit mounted to the trucks they were seen by another person with Tesla support vehicles and Tow just in case and towing extra equipment overall they look pretty awesome here and this video demonstrates an environment it's particularly designed for back in 2020 Elon Musk said quote we're working on increasing Dynamic air suspension travel for better off-roading needs to kick butt in Baja now they're there testing exactly this overall this stream actually isn't that great since it's low quality and they're filming with a phone while going through very bumpy terrain the Cyber truck in front handles it well though as you can see and we can see it carve through some sand in an impressive manner at one point they said that the only issues they've had were flat tire but the air suspension and active dampers helped dial in that ride we've known that this would be the case for a long time that it would have these features but it's confirmed here from Tesla directly they say it does a great job and in classic Elon fashion is a super hardcore product on the production side of things a huge batch of cybertruck castings was spotted by Joe tchm at Giga Texas he got a few great photos and it really shows some impressive progress these are Parts made with the largest casting machines ever devised and they are a huge part of how Tesla will make the cybertruck profitable they're also pumping them out as they gear up for full scale production ramping out in the wild another release candidate was spotted next to a model y we can see that it's taller and quite a bit longer Additionally the cybertruck suspension can be raised as needed to Tower over the model y even more this is a pretty good comparison to see though since the size of the model Y is very well known at this point for the Peterson Museum this week there was an auction of a low Vin cyber truck held on October 7th the auction was hosted by Jay Leno and the car ended up auctioning off for $400,000 next up today we have some updates from the semis also coming from J Leno we haven't heard much about the semis production ramp since it was launched about a year ago we know they're producing it at Giga Nevada in small numbers with a capacity for about five trucks per week then in March when Tesla had a recall 35 of their semis were taken off the road for repairs 36 had been delivered to PepsiCo now Jay Leno has shared some new information after an exclusive drive in the semi with fron Bon holsen and the head of the Tesla semi pro program Dan Priestley it turns out there are quote in the range of 60 to 70 trucks on the drive Priestley confirmed that Tesla's semi trucks have been bringing battery packs from Giga Nevada to the Fremont Factory replacing diesel trucks it handles the same 260 M route with the same load as the diesel trucks just fine the semi is also using parts from the Cyber Tru Model S and model X including a drive inverter and carbon sleeved rotors it has about 1,500 horsepower but that might be flexible depending on customer needs that's to make it as long lasting as possible saving tires and increasing efficiency they also confirmed they're planning to launch a version of the Semite with a sleeper cab once they've employed their long-distance mega chargers for now though they're still working on ramping production of the current Semite without a sleeper cabin in August Tesla hired some new Executives to lead the expansion at K Nevada that will house this truck's volume production and they're hiring a lot more people at that factory they recently listed Ted new jobs related to building and designing the Tesla semi- production line specifically these positions include senior architect structural modeling Lead Factory design engineering lead and more their job descriptions for senior architect reveal their plans to construct new assembly lines from the ground up quote the product portfolio is expanding with never built before production lines and our Architects are expected to have the skills to translate new manufacturing requirements into efficient code compliant and aesthetically appealing spaces in a cross functional organization our team Works side by side engineering construction and procurement teams to design and build the future of Tesla at investor day they shared this image of their plans to just about double that factory size to accommodate volume production of the semi among other things so it's good to see them taking steps to make that happen we haven't seen any signs of them actually starting this construction yet but as we can see from these new job descriptions they're working on it hopefully that means we'll be seeing new production lines for the semi next year last up today some updates from other automakers Volvo has officially announced a price for their new entrylevel EV the ex30 the single motor extended range rear wheel drive will start at $ 36245 and have a 275 mile range then the plus trim will start at $4,195 and the ultra trim at 41,8 195 the twin Motor Performance all-wheel drive is starting over $46,000 for the plus trim with a 10mile range reduction then the ultra trim will be just under $48,000 deliveries will start start mid next year looking at these photos there's definitely a strong resemblance in the design language between the ex30 and the pstar assuming Volvo is actually able to scale this car these prices are a very big deal my guess is that they're losing money for now so it'll take some time to scale but this looks like a great option for those needing to make the switch to an EV $36,000 is going to be tough to beat for a car of this size and we'll see if Tesla can take that on in the future or if Volvo isn't able to scale this hopefully this is a great competitor to Tesla that they'll have to match heia has officially announced the starting price of their Flagship ev9 the rear World Drive three row electric SUV will start at $54,900 and should begin rolling out in the US later this year prices for the light long range wind land and GT line will be announced closer to the launch for that price the rear wheel drive will have seating for up to 7 215 horsepower 258 pound feet of torque and the latest tech features it'll also be their first EV to feature their fourth gen B Tech it'll be built in South Korea and shipped to the US at first but production will eventually be moved to their facility in West Point Georgia likely to comply with tax credits with a seven seater model y starting around $53,000 and the r1s around $80,000 the ev9 is priced pretty reasonably especially considering how small the third row is on that model y again it all comes down to scaling profitably so hopefully they're able to do that here with the ev9 and they're not just losing a ton of money up front the ev9 along with vehicles from Hyundai and Genesis was also spotted at a Tesla Supercharger in San Clemente California which we figured would suggest these cars will have the nacs capability moving forward they appear to have been part of a photo shoot in preparation for the announcement the Hyundai ionic 5 and Kia ev6 as well as the ionic 7 and ev9 shared the egmp platform so it makes sense that if one would make the switch they all would just a few days after these photos were posted it was officially announced that all three brands would in fact be adopting nacs Hyundai USA and Genesis their luxury sub brand released the announcement at the same time followed by KIA shortly after Hyundai's in the US will ship with nacs beginning in Q4 of 2024 and in Canada the first half of 2025 existing Hyundai owners should get an adapter by q1 of 20125 Kia and Genesis shared a similar timeline that's just about every major brand in the US so nacs has officially lived up to its name as the North American charging standard as far as we can tell the only Brands remaining include Toyota VW stellantis Mazda Renault and Subaru among a couple other small ones once these companies need to it's pretty much guaranteed that they will want to move forward with the same deal if they don't it will be a significant disadvantage for their electric vehicles that's all the latest Tesla news for today so in the meantime if you want to see all the newly confirmed features for the Cyber Tru like bidirectional charging you can check out that video linked up here or in the description below thanks so much for watching and I'll see you on the next one
