The Tesla Model 3, with its starting price of $35,000, was supposed to be the car that brought electric driving to the masses.
But that's not happening yet.
In fact, Tesla (TSLA) has yet to sell a single Model 3 at that base $35,000 price. There are customers who want those cars, but they'll have to wait while Tesla makes higher-priced versions, costing $50,000 to $60,000, first.
And just last weekend, CEO Elon Musk announced a special high performance version of the Model 3 that will cost $78,000.
Musk tweeted this weekend about why he is in no rush to produce the less expensive Model 3.
"Shipping [minimum] cost Model 3 right away [would] cause Tesla to lose money & die," Musk said in a Tweet on Sunday.
Currently, Tesla's ordering web site indicates that the less expensive cars with the the smaller battery packs won't be delivered until the end of this year. So anyone who wants just the basic Model 3 with the advertised $35,000 have to wait.
Prices for the Model 3 rise quickly as features are added. Any paint color other than black, for instance, adds $1,000. Sporty wheels are another $1,500. "Enhanced Autopilot," a feature Tesla uses as a major selling point, is another $5,000.
With every available option added, the total price for one of the longer-range, premium Model 3's hits about $60,000. That doesn't include all-wheel-drive, which isn't available yet.
Continue Reading: Tesla's Model 3 isn't really for the mass market. It's a luxury car
But that's not happening yet.
In fact, Tesla (TSLA) has yet to sell a single Model 3 at that base $35,000 price. There are customers who want those cars, but they'll have to wait while Tesla makes higher-priced versions, costing $50,000 to $60,000, first.
And just last weekend, CEO Elon Musk announced a special high performance version of the Model 3 that will cost $78,000.
Musk tweeted this weekend about why he is in no rush to produce the less expensive Model 3.
"Shipping [minimum] cost Model 3 right away [would] cause Tesla to lose money & die," Musk said in a Tweet on Sunday.
Tesla has long been open about the fact that the base-price Model 3 cars are a lower priority as the company works gets its production line running at full capacity.With production, 1st you need achieve target rate & then smooth out flow to achieve target cost. Shipping min cost Model 3 right away wd cause Tesla to lose money & die. Need 3 to 6 months after 5k/wk to ship $35k Tesla & live.— Elon Musk (@elonmusk) May 21, 2018
Currently, Tesla's ordering web site indicates that the less expensive cars with the the smaller battery packs won't be delivered until the end of this year. So anyone who wants just the basic Model 3 with the advertised $35,000 have to wait.
Prices for the Model 3 rise quickly as features are added. Any paint color other than black, for instance, adds $1,000. Sporty wheels are another $1,500. "Enhanced Autopilot," a feature Tesla uses as a major selling point, is another $5,000.
With every available option added, the total price for one of the longer-range, premium Model 3's hits about $60,000. That doesn't include all-wheel-drive, which isn't available yet.
Continue Reading: Tesla's Model 3 isn't really for the mass market. It's a luxury car
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