Successful Model 3 good for auto industry as a whole

There is much excitement and buzz over Tesla’s Model 3 electric sedan. Yet while Tesla is unveiling its lower cost electric vehicle (EV) aimed at the masses, as the owner of BMW/MINI of Freeport, I can’t help but look proudly at how BMW through its “i” portfolio is embracing its own electric mobility effort.

Whether its the sleek, gull-winged i8 sportscar, the X5 xDrive40e sedan or the head-turning i3 hatchback, BMW is making its own mark on EVs at a time when sustainable transportation is increasingly becoming a strong factor in consumer decision making when considering getting into a new vehicle. In fact the number of i3’s sold in the U.S. has nearly doubled from 2014-2015 to 11,024 (a figure that only trailed the Tesla Model S, Nissan Leaf and Chevy Volt). Also, a January 2016BMW blog revealed, “In the listings of the most popular EV models, the BMW i3 occupies third place on a world-wide basis since its market launch in November 2013.”

Sure some consumers may still find internal combustion engines (ICE) a safer bet with gasoline prices falling considerably. However, those cheaper levels appear to be a short-term phenomenon driven more by volatility than macro reality. This should make a move toward longer-term automotive electrification more ideal for consumers, something supported by a new report from energy data analytics firmBloomberg New Energy Finance (BNEF). In fact, the average price of a gallon of gasoline has already risen 14% to $2.02 according to a March 20 Trilby Lundberg survey. Considering its not even Atlantic Hurricane season yet, it may be safe to suggest the price of gasoline is heading higher near-term.

I personally wish Tesla a lot of luck with its Model 3 because a successful, more affordable EV is good for the automotive industry as a whole. Additionally, with so much innovation emerging from BMW on the heels of the company’s 100-year anniversary, BMW is reimagine the future of mobility, and it really is electric.

Furthermore, with advanced automotive innovation, increasing range and declining entry price points grabbing media headlines in recent weeks ahead of Tesla’s Model 3 introduction, we at BMW/MINI of Freeport are excited to be charging ahead with a revamped Corporate Fleet aimed at more affordably offering to help businesses and their employees get behind The Ultimate Driving Machine and a highly connected MINI lineup now rather than get on a waiting list for possibly two years for the Model 3.

To read this full post by our client, Gregg Vitello, owner of BMW/MINI of Freeport, please check out the full post on LinkedIn here

Photo Courtesy of BMW of North America.