Tesla Finally Announces Launch Of $35,000 Standard Model 3 And Shift To Online Sales

Tesla Model 3
A Tesla Model 3 car is displayed at the Canadian International AutoShow in Toronto, Ontario, Canada, February 15, 2019. (Photo: REUTERS/Chris Helgren)

Tesla has announced the launch of its long-awaited Standard Model 3 and the company's shift to online sales. The vehicle will start selling at $35,000 and promises an improved interior.

Multiple outlets confirmed that Tesla will finally roll out the much-anticipated auto that is expected to feature 220-mile range and a top speed of 130 mph (miles-per-hour). The vehicle can also be accelerated from 0 to 60 mph in just 5.6 seconds.

According to CNBC News, CEO Elon Musk said of Standard Model 3, "The interior will be slightly better than was originally promised." He also said the base price will not factor in gas savings or tax incentives that could potentially power buying costs. "It's an incredible car, and at $35,000 there are still some pretty significant consumer tax credits that can be had," he explained.

Potential buyers will also be allowed to test-drive the car before the purchase. Full refunds will be offered to buyers who will return the auto with no less than 1,000 miles reached or seven days of use.

Musk also revealed that U.S. consumers can now make their purchases through their mobile phones. This change is part of the Palo Alto-based auto provider's initiative of shifting all of its sales digitally. Musk clarified that stores will still be up but these will be converted into information centers and galleries where customers can obtain more information about the company's existing and upcoming products.

Unfortunately, Musk confirmed that Tesla will have to lay off some workers to help lower labor costs and auto prices. "I wish there was some other way," the carmaker said of the changes that will take place within the company.

In January, Musk pointed out that building the Standard Model 3 while achieving financial sustainability was hard, adding that it may take two or three more years before another affordable car from Tesla comes out.

Meanwhile, Volvo appears to have announced an electric car that could compete with Tesla's Standard Model 3. The Detroit News reported that the Gothenburg-headquartered car firm announced the Polestar 2, a sedan that features a similar battery range to that of the Model 3.

Volvo's Polestar 2 also has an affordable price tag that starts at $43,000 and is a follow-up to the Jaguar and Audi. Some analysts suggested that the Polestar 2 appears to be a close carbon copy of Tesla's latest electric car and while EV (electric vehicle) wars are brewing, experts commented that 2019 may not yet be the year of great heights for the EV market.

© 2019 Business Times All rights reserved. Do not reproduce without permission.
Loading...
Sign Up for Newsletters and Alerts