Published: Fri, October 19, 2018
Money | By Armando Alvarado

Tesla launches new $45000 Model 3

Tesla launches new $45000 Model 3

Tesla has once again changed the game, this time with the release of a slightly less expensive version of its Model 3.

The base price will be $US45,000; it will cost about $US35,000 in California after federal and state tax rebates. Given previous Model 3 editions were selling for as much as $86,000, and that its luxury Model S and X cars go for well over $100,000, it's likely that more budget conscious Tesla fans will be eager to jump on the new opportunity to own a cheaper Model 3. Tesla has been focused on ramping up production to fill those higher-priced orders. In response, the company promised an upcoming model with a standard battery pack that will remain faithful to the initial price promise.

While the cheaper version of the auto is significantly lower than the $54,000 base price for the all-wheel-drive version that Tesla has been selling, some bears are honing in on various drawbacks of the model, as well as citing a great level of uncertainty that still surrounds Tesla's first mass-market vehicle, promised at a baseline price of $35,000. But in California, it will cost $US35,000 after federal and state tax rebates, Musk said. Tesla has said that it would not manufacture the base-level version of the Model 3 this year.

Tesla has been dogged by delay and delivery issues in the past.

The vehicle has an estimated range of 260 miles, a single motor and rear wheel drive.

With the arrival of the Model 3 Mid Range model, Tesla will no longer sell the rear-wheel drive Long Range version.

Apple Watch USB-C Charging Cable Launches for $39 in Canada
The new iPhone XR will be available to pre-order from tomorrow but that's not the only launch coming from Apple in October. Apple has propped up demand with cheaper models and the more-capable iPad Pro , which works with a keyboard.

After incentives (federal tax credit) and potential gas savings (over a spread of six years), Tesla advertises the cost as being $33,200.

Now there are three choices: The new one, the performance model, and a "long-range" version between the two.

Hitting that price target is important, because the federal tax incentives - worth up to $US7,500 per auto - are due to start dwindling in January.

Tesla said it has used the same battery pack as the long-range version with fewer cells for the mid-range version. But in the meantime, the electric-car maker is taking orders for a mid-range battery Model 3 that's edging closer to that sticker price.

Adding the mid-priced version of the Model 3 appears to be a strategic way to lure possible buyers who had been waiting for the lower-priced version.

"As Model 3 production and sales continue to grow rapidly, we've achieved a steady volume in manufacturing capacity, allowing us to diversify our product offering to even more customers", a Tesla spokesperson said in a statement.

Like this: