Questions-Insights-Outcomes

Tesla Model 3 Insights: How well is the launch going?

Netvibes analyzes data to deliver key insights that answer your biggest business questions. Earlier this year we analyzed Tesla’s Master Plan to understand whether Elon Musk was on track to achieving what he set out to do 10 years ago. (For details on what we found, read the blog).

For a recent webinar, we decided to evaluate the success of Tesla’s Model 3 launch, using publicly available data. Using a Netvibes dashboard, we’ve been tracking the launch of the Model 3 since mid-July—a few weeks before the first production vehicles were delivered. We can now start to identify trends and themes that are taking place.

You can watch the webinar video recording (below) for the full Tesla analysis.

Here are some of the insights we discovered:

Questions:

  • What is the perception of the Model 3 vs the Model S?
  • Where does Tesla stand with regards to the Model 3 production targets?
  • What are people’s opinions of the various features and attributes of the Model 3?
  • What has been the effect of the launch period on Tesla’s overall image?

Insights:

  • No confusion between Model 3 and Model S.

The Model S is frequently mentioned alongside Model 3, raising questions about whether consumers understand the differences between the two cars. To analyze, we looked at the conversations where people were comparing the models or expressing in any way whether they think the cars are the same or different.  We did this by examining the various types of language that could be used to convey these thoughts and combined them with proximity operators to ensure relevancy in the results.

Overall there does not seem to be confusion between the two models. Most people understand that the new Model 3 is a more economically priced sedan, rather than being the latest and greatest luxury vehicle.

Tesla Model 3 versus Model S

 

  • Tesla has mostly been reaching its production targets for the Model 3, but October’s numbers are questionable.

Tesla set lofty goals when it came to the production targets for the new model. The Model 3 is Tesla’s biggest test yet and is going to prove whether they can transition from manufacturing lower volumes of luxury vehicles to mass production. There are over 500,000 customers with existing pre-orders, half of which were placed over 18 months ago, waiting to be fulfilled who have their eyes and ears on how the rollout is going.

Looking at the data, we see that Tesla’s scaled-back targets were much more manageable, and the actual production figures for July, August and September are close to target. However, October does appear to be slipping and at the moment it’s unclear if this is a lapse that will be rectified or a sign that exponential production growth is not yet being achieved and is currently following a more linear trend.

Tesla Model 3 production chart

 

  • People mostly approve of the features and attributes of the Model 3.

Next, we took a look at some of the specific attributes of the Tesla Model 3 to see whether the car is meeting expectations. For each feature, we asked whether it was being discussed in a more positive or negative light.

It’s important to point out that we are not using “sentiment analysis” here, as we need to go further than that. Because there is often very specific language that people use when describing the various car factors, we need to ensure we are understanding the conversation properly. Each of the charts below splits the conversation about the topic based on language specific to that feature and only includes the data if the words are used in close proximity to the main subject.

Overall, there isn’t any cause for concern around these key features, and most people seem pleased with the Model 3 so far. Time will tell as more and more people are driving their own Model 3s.

Sentiment analysis of Model 3 features

 

Ready to explore how Netvibes can answer your most critical business questions? Contact us for a free demo.

Netvibes Tesla dashboard

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