Tesla Starts Offering $45K Model 3
- by Claude Bryan
- in Markets
- — Oct 22, 2018
Elon Musk took to Twitter to introduce the vehicle, then adding, "Costs $35k after federal & state tax rebates in California, but true cost of ownership is closer to $31k after gas savings". By keeping the same pack, but installing fewer cells, Musk commented that "we can get it done now instead of ~February", referring to when Tesla had last targeted production of the Standard Range model.
Musk said Thursday the vehicle would be sold via Tesla's "super simple new order page", which estimated that delivery for its midrange model would take six to 10 weeks.
Someone in Zimbabwe is fed up with queuing for fuel - they have bought an electric-powered Tesla Model X.
The new Model 3 comes with a shorter range of 260 miles in one charge, as compared to the more expensive Model 3's 310 miles of range.
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On top of your base Tesla purchase, this add-on cost $3,000 for the future "Full Self-Driving" option in an addition to the $5,000 upgrade for the "Enhanced Autopilot", which the company says is necessary for the self-driving feature.
The mid-range model is advertised as starting at $31,000 after state and federal tax credits and gas savings, which is an interesting way to display pricing on an ordering site. And if you decide to upgrade any of this later, by the way, it would cost you an extra $1,000.
The new version has a delivery period of six to 10 weeks, according to the website, which would customers eligible for the current $7,500 USA tax credit if they take delivery by the end of the year.
For investors, the latest Model 3 may heighten scrutiny of gross margins. A mid-range version of Model 3 for only $4,000 less can appeal to a wider audience while Tesla prepares to bring to market the cheapest version of the vehicle. In response, the company promised an upcoming model with a standard battery pack that will remain faithful to the initial price promise. In May, Musk acknowledged that at Tesla's current production rate the company would "lose money and die" if it sold Model 3 mass-market sedans at a $35,000 price point.
