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Tesla announced Thursday that it would issue a copy of its Model 3 car at $ 35,000 with a delivery time of two to four weeks, the electric car maker closing several of its retail stores around the world to to increase the demand. And reduce the extra costs.
CEO Elon Masak said on a conference call that the company, which owns the Saudi sovereign wealth fund, would not make any profit in the first quarter, but would return to profitability in the second quarter. In a letter to fourth-quarter shareholders, Tesla said that a "very small" net profit in the first quarter was "an optimistic goal."
Shares in Tesla fell 3.4% in hours. Investors are often concerned about Tesla's ability to maintain margins by reducing costs and quality while lowering prices.
Falling prices could appease some analysts, who feared that the demand for more expensive versions of Model 3 will be on the brink of a decline, especially after the reduction in federal tax exemptions this year.
The announcement comes about three years after Mask promised to put the car at a price to boost sales. Tesla said its sales would now be online only around the world and would close many stores.
This is the third time this year that Tesla has reduced the price of Model 3 after starting at $ 42,000.
Tesla said the new version, priced at $ 35,000, was going up to 209 kilometers per hour and could accelerate from zero to about 97 kilometers per hour in 5.6 seconds.
Tesla offers another version that costs more than $ 2,000, with a top speed of 225 km / h.
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