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Tesla Inc. has started selling a lower-priced version of its Model 3 sedan on Thursday, but the price is still higher than expected and federal tax incentives that could drive down the price will expire.
The new version includes a new mid-range battery and a starting price of $ 45,000, said Thursday an electric car manufacturer, $ 4,000 less than the previous starting price of $ 49,000. For over a year, Tesla
TSLA, -2.90%
has touted a Model S with a base price of $ 35,000 that will be affordable enough to please the masses, but is still not available.
In August, UBS analysts said Tesla would lose money with a model 3 endowed with a base price of $ 35,000. The Tesla website indicates that the standard version, which should have this base price, will be marketed in four to six months.
In a tweet on ThursdayElon Musk, chief executive of Tesla, said the new model "costs $ 35,000 after state and federal tax cuts in California, but that the actual cost of ownership is closer to $ 31,000. dollars after gasoline savings ".
However, the tax cuts that apply to everyone in the United States are expiring. Tesla reaching a key threshold for deliveries, the federal tax credit of $ 7,500 for electric vehicles will be phased out starting in 2019. For buyers taking delivery from January 1st. As at June 30, 2019, the credit would be halved to $ 3,750, halved for the period from July 1 to December 31, 2019, and fully eliminated by 2020.
Tesla plans to start delivering model 3 with the new midrange batteries in six to ten weeks, the company said.
"While Model 3 production and sales continue to grow rapidly, we have achieved a stable volume of production capacity, which has allowed us to diversify our product offering for even more customers," said a sales representative. Tesla's word in a statement. "Our new midrange battery is being introduced this week in the US and Canada to better serve the diverse needs of many customers who want to own Model 3."
The new version has a range of 260 km, said Tesla on its website, compared to the long-range battery pack available previously 300 km. Musk added on Twitter that long-range batteries, rear-wheel drive and "autonomous driving" capabilities will only be available next week and will be off-menu options.
Tesla share has fallen 15.2% since the beginning of the year, the S & P 500 index
SPX, -1.44%
gained 3.6%.
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