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

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.


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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.

Feb 06, 2019
(double)

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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