Tesla knocks $1,100 off price of the Model 3

February 6, 2019
Tesla knocks $1,100 off price of the Model 3
In this June 24, 2017, file photo, a Telsa Model 3 car recharges at a Tesla charging station at Cochran Commons shopping center in Charlotte, N.C. esla has cut $1,100 from the base price of its Model 3 car designed for the mass market. The electric car company now says on its website that the car starts at $42,900, still short of the target base price of $35,000. For $42,900 buyers will get a rear-wheel-drive Model 3 in black with Tesla's lower-range battery that goes 264 miles per charge. (AP Photo/Chuck Burton)

Tesla is cutting $1,100 from the base price of its car designed for the mass market, the Model 3.

The electric car company now says on its website that the car starts at $42,900, still a ways from its goal of lowering the base price to $35,000.

Tesla cut 7 percent of its workforce last month to trim costs and reduce the price of the car. CEO Elon Musk says the Model 3 must be competitive with gasoline-fueled cars for the company to succeed.

For $42,900 will get a rear-wheel-drive Model 3 in black with Tesla's lower-range battery that goes 264 miles per charge.

The price doesn't include federal and state tax credits. The federal credit is now $3,750, but that expires at the end of the year.

Explore further: Tesla delivers record number of vehicles, cuts prices $2,000

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Eikka
1 / 5 (1) Feb 06, 2019
The electric car company now says on its website that the car starts at $42,900, still a ways from its goal of lowering the base price to $35,000.


People have already paid deposits for the lower priced model, so are they now admitting they advertised for and sold a non-existing product?

If you reserve a booking for X amount of dollars and pay a deposit, and then turn up and find out they're demanding Y amount of dollars that is more than what you paid for, you get to sue the company for false advertising. This is just a class-action lawsuit waiting to happen unless Tesla starts to deliver the vehicles at the price they said they would, very soon.
Eikka
not rated yet Feb 06, 2019
(double)
antialias_physorg
not rated yet Feb 07, 2019
People have already paid deposits for the lower priced model

No. The deposit was for a 'Model 3' - not any specific feature set or price point of that model. The deposit also does not constitute a sale (since it is fully refundable at any time).

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