Elon Musk’s goal for the Tesla Model 3 is to offer consumers a $35,000 electric car while at the same time boosting the market for emission-free vehicles. There’s now thousands of Model 3 cars leaving the Gigafactory production line every month, but none of them cost $35,000 to buy yet. Tesla did just take a step closer to achieving that, though.
Until today, there’s been two versions of the Model 3 available. The performance dual motor all-wheel drive version costs $64,000 before incentives and gas savings, and the long range battery dual motor all-wheel drive version costs $54,000. However, as Reuters reports, this week Tesla introduced a rear-wheel drive mid range battery model for $45,000. With the federal tax credit that price drops down to $37,500.
This cheaper model has a top speed of 125mph and does 0-60mph in just 5.6 seconds. As for range, it will manage up to 260 miles between charges, which should be sufficient for most daily commutes. If you’re tempted, the wait isn’t that long to get one, either. Delivery is promised within 10 weeks of your order being placed.
There’s an extra incentive to order a Tesla now rather than waiting. On Jan 1. 2019 the tax credit for these electric cars will be cut in half. Tesla also confirmed that the $35,000 base model some customers may be waiting for will not be manufactured this year, meaning it won’t get the $7,500 credit.
If you have the cash available, clearly now is a great time to buy a Model 3. Depending on where you live in the US the price may fall even further. For example, New York offers a further $2,000 incentive, dropping the price down to $35,500. Tesla also likes to point out your gas savings, which amount to $4,300 over six years for the mid range Model 3.