Tesla's Model 3 is intriguingly smaller and simpler than all other Tesla models but no new vehicle has sparked such excitement among potential buyers. Add to that, news about the new car has also ignited investment frenzy among some investors. This past week had been such a big week for the electric car maker, making it to the top of auto rankings while also stealthily having its release candidates run road tests as shown by spy shots.
So what’s driving the frenzy over Elon Musk's latest smaller and simpler sedan? The company has outright informed the buying public that the car will not be any more advanced than its previous models, plus, it's going to be more simple and more traditional. However, this does not seem to discourage it from regularly making the headlines, and even getting excited comments from auto journals and news.
According to The New York Times, what made Tesla's Model 3 so awaited has something more to do with its company's story than the design and features of its latest soon to be released vehicle. As the company's shares surged past $300 this week and surpassing Ford’s market value, even CEO Elon Musk admitted on Twitter that his zero emission vehicle company was “absurdly overvalued if based on the past”. However, as a company that just lost $773 million last year, its recent market value is impressively off the charts.
Tesla soared high into a rarefied realm despite pessimistic predictions, and it has a lot to do with a unique story that the company experiences, making it look formidable to outsiders. According to the Forbes, Tesla is the "coolest" auto brand among millennials as shown by a study released by Google. This is the element that makes the smaller, simpler Model 3 sedan so widely awaited.