Elon Musk's Tesla Model 3 Finally Hits Holy Grail Price Of $35,000

Elon Musk's Tesla Model 3 Finally Hits Holy Grail Price Of $35,000

Tesla stunned the automotive world after its reservations list for the promised $35,000 Model 3 ballooned to over half a million orders in 2017.

Tesla's stock fell 3 percent in extended trading after the news came out. That adds an extra 20 miles of range and shaves the 0-to-60 time down to 5.3 seconds.

While demand for the Model 3 was never an issue, numerous folks with outstanding reservations were hoping to get their hands on a $35,000 model. The premises Tesla owns will be converted into "information centres", but it's not clear how many redundancies this move will create.

It's finally here; the $35,000 Model 3 that Elon Musk first promised almost three years ago has come to fruition.

On Thursday afternoon, Tesla announced that it's finally ready to start selling the cheapest versions of its Model 3 electric vehicle.

We are incredibly excited to announce that the standard Model 3, with 220 miles of range, a top speed of 130mph and 0-60mph acceleration of 5.6 seconds is now available at $35,000!

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Tesla points out that the standard Model 3 obtains the same 5-star safety rating as the longer-ranged version, which has the lowest probability of injury of any vehicle ever tested by the United States government. Well, you still don't get any buttons or instruments or any interior hardware, really, beyond the 15-inch central touchscreen that remains standard.

To achieve these prices while remaining financially sustainable, Tesla is shifting sales worldwide to online only. The company also claimed that buyers will be able to order a Tesla on their phones in about a minute, and they will be able to return their cars within seven days or 1,000 miles. "Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free".

Coinciding with the price drop, Tesla is also bringing back its "full self-driving" feature after it removed it in October, following criticism it was overstating the autonomy of its cars.

The online sales shift will enable Tesla to lower all vehicle prices by 6 percent, on average, including its higher-end Model S and Model X.

The upside for Tesla customers is a significant reduction in cost.

The company is also looking to develop its roadside assistance and service protocols with "the goal of same-day, if not same-hour service, and with most service done by us coming to you", according to the company's press release. Moreover, we guarantee service availability anywhere in any countries in which we operate. Tesla did not provide a comprehensive list of standard equipment, but does note that the base model, dubbed Standard Range with Standard Interior, includes 18-inch wheels, a tinted glass roof, auto-dimming and power-folding mirrors, manual-adjustable front seats, cloth upholstery, "base" interior trim, "basic" audio, "standard maps and navigation", Bluetooth, custom driver profiles, and a center console with storage and four USB ports. It'll be interesting to see how this plays out, and if other automakers follow the company's lead in the near future.

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