Tesla Plans Single Pricing For Maintenance, and Insurance!

Feb 27, 2017 07:51 PM EST | Jayde Winston

Tesla proves itself in building the best cars in the world. Recently, the Model S hit 0-60 MPH in 2.28 seconds making it the fastest accelerating car defeating any hypercars in the market. Now, Tesla aims to provide not only the best cars in the world but also the most practical cars. The company plans to incorporate single pricing with maintenance, and insurance. In layman's term, customers pay one price for the vehicle, its maintenance, and insurance.

These strategies have been incorporated with Asian markets, and Tesla has experimented with this concept by selling cars in Asia. Tesla's President of Sales and Services, Jon McNeill mentioned that the company's vision is to offer a single price for the car, maintenance, and insurance.

"It takes into account not only the Autopilot safety features but also the maintenance cost of the car. It's our vision in the future we could offer a single price for the car, maintenance, and insurance," says McNeill.

The strategy above appears to be kind of interesting since the cars have few moving parts and very little maintenance requirement compared to a normal gasoline or diesel engine car. Also, self-driving cars should be the safest cars the reason insurance rate ends up low.

Sources reported that crash rates for Tesla's vehicles have dropped to 40% after the Autopilot feature has rolled out. CEO, Elon Musk said "If we find that the insurance providers are not matching the insurance proportionate to the risk of the car then if we will need to in-source it. But I think we'll find that insurance providers do adjust the insurance cost proportionate to the risk of a Tesla."

Nonetheless, the implication of maintenance, insurance, and car single pricing could result in many wonders. This strategy could make car ownership a much simpler experience.

What are your thoughts with Tesla's single pricing strategy? Share it in the comment section below, and stay tuned for more news and updates.

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