Over the past year, Tesla’s trajectory has been uncertain. Guessing whether the company would end 2018 as a success or see its total downfall was like trying to follow an EKG tracking a haywire pacemaker. One week, Elon Musk would be flirting with FTC investigations, the next he’s smoking a joint on camera or tweeting supposed LSD-fueled rants. Then, in the middle of the year, Tesla 3 production was building momentum and the company posted a profitable quarter. Now, it looks like another dip is on the way, but the long-awaited affordable version of the Model 3 might be the light at the end of the tunnel.
To offset the $7,500 EV tax credit expiring late last year, Tesla cut the prices of all its current cars by $2,000. In combination with the $3,750 tax credit you can still apply for, there’s still a big chunk of change to be saved. “Customers can apply to receive the $3,750 federal tax credit for new deliveries starting on Jan. 1, 2019, and may also be eligible for several state and local electric vehicle and utility incentives, which range up to $4,000,” according to Tesla. Even with the all the available incentives applied, the Tesla Model 3 will cost more than the long-promised $35,000.
Which isn’t great news, especially if you own stock in Tesla. After the announcement — which also included news that since demand for the more expensive Model 3 is slowing — TSLA took a dive. That doesn’t mean interest in the Tesla 3 is dead altogether. Customers who put deposits on the more affordable model are just waiting. And if you didn’t put a deposit down but are still turned on to the idea of the most affordable Tesla (despite being more than $35,000), you’ll have to wait until April.
In the grand scheme of things, three months is hardly a long wait and compared to the $46,000 base price of the next level Model 3; you’re still saving a few thousand dollars. It’s not the bullseye we were all hoping for, but the Model 3 will be the best looking and performing EV option anywhere near that price range.
The best way to catch up on the day’s most important product releases and stories. Read the Story