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Comparison of BMW and Tesla Current Models

GOOVER DAILY REPORT 6/5/2024
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TABLE OF CONTENTS

  1. Introduction
  2. Overview of BMW and Tesla in the EV Market
  3. Performance Metrics
  4. Pricing and Financials
  5. Consumer Preferences and Market Trends
  6. Technological Advancements
  7. Challenges and Limitations
  8. Glossary
  9. Conclusion
  10. Source Documents

1. Introduction

  • This report aims to provide a detailed comparison between the current models of BMW and Tesla, especially focusing on the electric vehicle (EV) market. The information in this report is strictly based on the data collected through various documents and is centered around metrics such as performance, pricing, sales, and market competition.

2. Overview of BMW and Tesla in the EV Market

  • 2-1. Introduction to the EV Models: BMW i4 and Tesla Model 3

  • The BMW i4 and Tesla Model 3 are some of the top contenders in the electric vehicle market. The BMW i4 eDrive35 M Sport is equipped with a single e-motor, delivering 282 bhp and 400 Nm of torque from a 70.2 kWh battery, offering an official range of 284 miles. The Tesla Model 3 Long Range, on the other hand, boasts a dual e-motor setup with 491 bhp and 494 Nm of torque from a 75 kWh battery, achieving an official range of 390 miles. These vehicles have been updated to emphasize performance, design, and technological advancements.

  • 2-2. Sales Performance from January to April 2024

  • Between January and April 2024, Tesla reported strong sales, leading the market with 8,001 units of the Model Y and 6,885 units of the Model 3 sold. This performance significantly outperformed its closest competitors, such as the BYD Atto 3 and Seal, which sold 2,638 and 2,384 units respectively. The Model 3's popularity is partly attributed to its recent updates, which include enhanced aerodynamic efficiency and a refreshed cabin design.

  • 2-3. Market Competition and Position

  • Tesla and BMW are not the only players in the electric saloon car market. They face competition from newcomers like the Chinese brand BYD, which has introduced models such as the BYD Seal. Other competitors include Volkswagen with the ID.7, Polestar with the Polestar 2, and Hyundai with the Ioniq 6. Despite this increasing competition, Tesla continues to hold a strong position in the market, which is highlighted by its dominance in sales figures. BMW maintains its status, emphasizing luxury and driving experience, bolstered by its i4 model that blends performance with refinement.

3. Performance Metrics

  • 3-1. Power and Acceleration

  • The referenced document compares various electric vehicle models, including the Tesla Model 3 Long Range and the BMW i4 eDrive35 M Sport, among others. In terms of performance metrics such as power and acceleration, the Tesla Model 3 Long Range outputs 491bhp and goes from 0-62mph in 4.2 seconds. Meanwhile, the BMW i4 eDrive35 M Sport produces 282bhp, resulting in a 0-62mph time of 6.0 seconds. These figures highlight Tesla's focus on providing high power and quick acceleration compared to BMW’s emphasis on a more measured performance.

  • 3-2. Range and Battery Capacity

  • Battery capacity and range are critical metrics for electric vehicles. The Tesla Model 3 Long Range comes equipped with a 75kWh battery, which offers an official range of 390 miles. On the other hand, the BMW i4 eDrive35 M Sport features a smaller 70.2kWh battery, leading to an official range of 284 miles. These metrics clearly position the Tesla Model 3 as a more suitable option for those needing longer range capabilities.

  • 3-3. Charging Time and Efficiency

  • When it comes to charging time and efficiency, the Tesla Model 3 Long Range utilizes the highly efficient Supercharger network with a maximum charging capacity of 250kW, enabling it to achieve a 10-80% charge in 27 minutes. The BMW i4 eDrive35 M Sport supports a maximum of 170kW charging, allowing a similar 10-80% charge in 31 minutes. Regarding efficiency, during tests, the Tesla Model 3 achieved 3.8 miles per kWh, while the BMW i4 recorded 3.6 miles per kWh. These results indicate Tesla's superior efficiency and quicker charging times, making it more convenient for frequent long-distance travel.

4. Pricing and Financials

  • 4-1. Price Changes and Trends in Different Regions

  • Tesla has significantly lowered the prices of its Model Y and Model 3 vehicles in Australia. Over the past two months, the entry-level Model Y Rear-Wheel Drive (RWD) saw a total price reduction of AUD$9,500 (C$8,600), now priced at AUD$55,900 (C$50,700). The Model 3 RWD also experienced a price drop of AUD$4,000 (C$3,630), bringing the new starting price to AUD$54,900 (C$49,840). In contrast, the Model 3 Long Range All-Wheel Drive (AWD)'s price was reduced by AUD$3,000 (C$2,720) to AUD$64,900 (C$58,900). Among various regions, Norway reported that the best-selling BEV in April was the Volvo EX30, priced from NOK 321,900 (€27,500) for the base 49 kWh battery variant. This price strategically undercuts the popular Hyundai Kona.

  • 4-2. Comparison of Purchase and Monthly Costs

  • In Australia, Tesla's recent price cuts make the Model Y RWD more affordable than a top-tier Toyota RAV4 Hybrid, enhancing its competitiveness against both traditional ICE vehicles and other EVs. Specific monthly cost details were not provided in the source documents. However, the purchase price reductions indicate significant potential savings for consumers opting for Tesla vehicles.

  • 4-3. Tax Incentives and Benefits

  • The referenced documents do not provide specific data on tax incentives and benefits for BMW or Tesla in any region. However, it is common knowledge that government tax incentives and benefits can significantly affect the net cost of EVs, favoring the adoption of such vehicles through reduced purchase costs and various financial perks. The documents indicate that policy changes, such as those in Norway, have influenced market dynamics, boosting sales of BEVs and reflecting a strategic shift towards full electrics (BEVs) while diminishing the appeal of PHEVs due to adjusted tax policies.

5. Consumer Preferences and Market Trends

  • 5-1. Sales Data and Leading Models in Different Regions

  • In Norway, plugin electric vehicles (EVs) accounted for 91.0% of market share in April 2024, with fully electric vehicles (BEVs) making up 89.4% of this share. The total auto volume in April 2024 was 11,241 units, experiencing a 25% year-over-year (YoY) increase. The best-selling BEV in April was the Volvo EX30, with 1,095 units sold. The Volkswagen ID.4 and ID.3 followed with 963 and 733 units, respectively. Tesla's Model Y, despite its relatively low volume in April, remains a dominant force over the longer term in Norway. The Tesla Model 3 Performance, with new updates, landed in the UK and is priced from £59,990, expected to rival the BMW i4 M50 which has a starting price over £10,000 higher.

  • 5-2. Factors Influencing Purchase Decisions

  • In Norway, policy changes limiting plugin hybrid electric vehicle (PHEV) sales have boosted BEV sales. Norway's fleet transition to plugins has shown a small growth rate, primarily due to the economic situation, with a notable 0.6% increase in Q1 2024 for both BEV and combined plugin market shares. The Volvo EX30's rapid rise in sales can be attributed to its competitive pricing and faster DC charging capabilities. For the Tesla Model 3 Performance, its appeal lies in enhanced driving dynamics, a quick 0-60mph acceleration in 2.9 seconds, adaptive damping, and improved structural rigidity.

6. Technological Advancements

  • 6-1. Autonomous Driving and AI Integration

  • Tesla has incorporated advanced AI for autonomous driving with features like 'Full Self-Driving Capability,' which can be purchased as an option for £6800. Enhanced Autopilot is available for £3400, providing additional semi-autonomous functionalities. While BMW has not detailed any new AI integrations for autonomous driving in the current documents, the vehicle tests did not highlight these features significantly, indicating that BMW may still be behind Tesla in this aspect.

  • 6-2. Battery Technology and Innovations

  • Tesla's Model 3 employs a dual-motor configuration with a 75kWh battery offering an official range of 390 miles and a real-world efficiency of 3.8 miles per kWh. Tesla maintains a leading position concerning battery technology, showcased by the fast charging capability with a 10-80% top-up in just 27 minutes using their Supercharger network. BMW i4 uses a 70.2kWh battery for its eDrive35 variant, which offers an official range of 284 miles and an efficiency of 3.6 miles per kWh. Despite its lower battery capacity compared to Tesla, BMW maintains strong residual values and balances performance with the best ride-and-handling in their electric lineup.

  • 6-3. Infrastructural Developments for EV Charging

  • Tesla has an established Supercharger network that allows for a seamless and quick charging experience with its 250kW fast chargers. BMW’s charging experiences do not match Tesla’s network convenience but uses chargers up to 170kW providing a top-up from 10-80% in 31 minutes. Both brands also support home charging setups, but the infrastructure developed and maintained by Tesla gives it an edge in terms of consumer convenience and charging speed.

7. Challenges and Limitations

  • 7-1. Battery Degradation and Maintenance

  • Electric vehicle batteries lose capacity over time, resulting in reduced driving range. According to Tesla, their batteries degrade on average by about 12% after 200,000 miles. Therefore, it is advisable for buyers choosing between similar Tesla vehicles to opt for ones with the least mileage to mitigate the impact on battery health. Additionally, Tesla offers an eight-year warranty on the battery pack and drive unit, with mileage coverage ranging from 100,000 to 150,000 miles depending on the model.

  • 7-2. Market Competition and Regulatory Changes

  • Tesla has significantly cut prices on its new cars over the past year, which has led to a notable decrease in the prices of used Teslas. This pricing strategy by Tesla has potentially increased competition in the market, making it a favorable time to purchase a used Tesla. However, the fluctuating prices and frequent updates in features and trim levels present unique challenges for potential buyers.

  • 7-3. Consumer Perception and Adaptability

  • The perception and adaptability of consumers play a crucial role in the adoption of Teslas. The shopping and research process for buying a used Tesla can be more involved compared to traditional gas-powered cars. Consumers need to be aware of factors such as the vehicle’s model, trim level, and battery health. Furthermore, the purchasing experience may differ based on where the vehicle is bought (directly from Tesla, from a dealership, or a private seller), each having its own set of advantages and limitations.

8. Glossary

  • 8-1. Tesla Model 3 [Vehicle Model]

  • The Tesla Model 3 is a small sedan known for its electric powertrain, leading performance metrics, and innovative features like autonomous driving. It is one of the most popular models in the EV market.

  • 8-2. BMW i4 [Vehicle Model]

  • The BMW i4 is an electric saloon car that emphasizes a combination of robust performance and luxury design, appealing to traditional BMW customers transitioning to electric vehicles.

  • 8-3. Battery Capacity [Technical Term]

  • A critical metric in EVs, indicating the amount of electrical energy stored in the battery, affecting the driving range and overall efficiency of the vehicle.

  • 8-4. Autonomous Driving [Technology]

  • A technology integrated into Tesla vehicles allowing significant driver assistance features, making use of advanced AI and sensor systems to enable semi or fully autonomous driving capabilities.

9. Conclusion

  • The comparison between BMW and Tesla current models highlights the strengths and weaknesses of each brand in the evolving EV market. Tesla continues to lead in sales and performance innovation, while BMW upholds its reputation for luxury and driving experience. Pricing strategies and consumer preferences will play crucial roles in shaping the future landscape of electric vehicles.

10. Source Documents