A Tesla Inc. Model 3 vehicle stands on display during AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles, California, U.S. (Photographer: Patrick T. Fallon/Bloomberg)  

Musk Puts Targets on VW, BMW's Backs as Model 3 Heads for Europe

(Bloomberg) -- Tesla Inc. has finally fleshed out when the Model 3 will be ready for Europe, and Elon Musk is picking some of the continent’s top cars as goalposts.

The Model 3 will start selling in Europe early next year, the chief executive officer said Wednesday as Tesla reported a surprise profit. When describing the level of global demand for the sedan, Musk estimated somewhere in the range of 500,000 to 1 million a year.

Musk Puts Targets on VW, BMW's Backs as Model 3 Heads for Europe

Putting it another way, Musk said the Model 3 measures up well against BMW AG’s 3 Series, which does roughly the low end of that volume annually. Volkswagen AG’s Golf sells at the higher side of that range, he said.

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