Tesla has lowered its price for the Model 3, but the cheaper version is still months away
- Tesla has lowered the price of its Model 3 to $42,900. Elon Musk said via Twitter on Wednesday that the vehicle comes to $35,000 after tax credits and fuel savings.
- It's one step closer to the originally promised base price of $35,000 before any kind of credit and fuel savings.
- In January, a tax credit available to Tesla buyers was cut in half to $3,750 from $7,500.
Tesla has lowered the price of the Model 3 to $42,900 - or $35,000 after tax credits - CEO Elon Musk announced early Wednesday.
It's still not the base-model price point originally announced by Tesla when it first unveiled the Model 3, but is a step in that direction. The standard battery is still four to six months away, according to the company's website.Read More: Tesla launched a new store on Amazon where it's selling iPhone cases, hoodies, and mugs
"We're doing everything we can to get there," Musk tweeted about the $35,000 base price without credits. "It's a super hard grind."
In January, the tax credit available to Tesla buyers was slashed in half, from $7,500 to $3,750, after it passed the program's threshold of 200,000 vehicles sold.
Earlier in February, Tesla announced that it had launched the Model 3 in China, where it is in the process of building a second Gigafactory. It also said a cheaper version of the Model 3 was on the way for Chinese buyers.
Shares of Tesla sank about 0.6% in early trading Wednesday after closing up 2.7% on Tuesday.
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- Elon Musk said Tesla cars will likely drive without human assistance by the end of 2019
Get the latest Tesla stock price here.
We're doing everything we can to get there. It's a super hard grind.- Elon Musk (@elonmusk) February 6, 2019