The $35k Tesla Model 3 Is Finally On Sale

Anna Jefferson
March 2, 2019

Former hedge fund manager Darius Brawn, who worked as a portfolio manager for Citadel, SAC and Sharpe Point, commented on Tesla's situation, stating that if the company doesn't sell a huge number of Model 3 vehicles next month they could be facing big problems: "If March doesn't go gangbusters for Tesla they are in real trouble, especially without raising", Brawn stated.

"This is a hard decision" but is "necessary to make our cars more affordable", the CEO wrote, after announcing another series of price cuts for the Model S and Model X and the arrival of a $35,000 version of the Model 3.

Besides the Model 3, Tesla is developing a new Model Y SUV for 2020 production, while beginning to build a factory in Shanghai.

The Long Range Model S, which costs $83,000 has a range of 335 miles per charge, has a 0-60 mph time of 4.1 seconds and a top speed of 155 mph.

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Inside, you still get the mega-screen interface, but the seats are cloth instead of leather, and you'll be forking out extra for on-board internet or Tesla's much-discussed driver assistance features.

Although these standard-range Model 3s will ship with all the hardware necessary for Autopilot, it's an extra $3,000 to have this functional before the auto is delivered, or $4,000 if you change your mind and want to add it after delivery, which should take place in "three to six months", according to Musk.

If you're willing to pay $37,000, you'll be able to get yourself into a "Standard Range Plus", which has a 240-mile range, a 0-60mph time of 5.3 seconds, and a 140mph top speed. Unless ultimate penny pinching is of the utmost importance to you, the $2,000 seems like money well spent.

Following hectic share price movements for Tesla, the SEC made Musk promise he would run any tweets that could affect the share price of Tesla by the company's board of directors-the obligation that the watchdog now says Musk violated by tweeting that Tesla will produce half a million cars by the end of this year. Also, you can order the Model 3 here.

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Tesla Inc chief executive officer Elon Musk changed his Twitter display name to "Elon Tusk" and promised news from his electric carmaker later this week in another late-night flurry of tweets between Tuesday evening and Wednesday morning. To help ease this transition, the EV-company is letting users test out a Tesla for seven-days or 1,000 miles (roughly, 1,600km) before they decide if they want to keep it or not.

Until now, Tesla has concentrated on selling Model 3s with long-range batteries and more equipment, meaning the average price paid was around $50,000 (£38,000).

"Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free", the company's statement said. "We do think that profitability in Q2 is likely". (Summon appears to have been enhanced according to the description.) Tesla's website also says that the ability to "recognize and respond to traffic lights and stop signs" is coming later this year, as well as "automatic driving on city streets".

However, in the announcement today, Tesla said "to achieve these prices while remaining financially sustainable, Tesla is shifting sales worldwide to online only".

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"This is the lowest we could possibly sell this vehicle", Musk said.

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