Tesla Adjusts Price on Newly Announced Model 3 Mid Range
UPDATE 10/24/18: Tesla has increased the base price of the new Model 3 Mid Range by $1000, to $47,200, only days after rolling it out, while decreasing the price of the Long Range version by the same amount, to $54,200. The story has been updated to reflect the new prices.
Tesla has finally launched a cheaper version of its Model 3 sedan, announcing it at $46,200 and a week later increasing its price to $47,200. This version uses what the electric automaker is calling its Mid Range battery.
While the true entry-level Model 3 has yet to arrive-that's the car former CEO Elon Musk has promised would cost $35,000 and deliver 220 miles of range-this mid-spec, rear-wheel-drive version achieves 260 miles of EPA-estimated range. In total, the Mid Range Model 3 starts at $3000 less than the previous least expensive model, the rear-wheel-drive Long Range. However, Tesla is discontinuing that model, so the next step up is the Long Range variant with all-wheel drive, which goes for $54,200 and adds an additional 50 miles of range.
On its website, Tesla estimates deliveries for the Mid Range between six and 10 weeks, which means that some buyers will be able to take the full $7500 federal tax credit and others will only be eligible for half, depending if factory production queues allow them to take delivery by December 31. The base Model 3, according to Tesla, will be available within four to six months. A $2500 deposit is required.
Five colors, 18-inch wheels, and what Tesla considers a "premium" interior come standard. That means 12-way powered and heated front seats, auto-dimming heated mirrors, LED fog lights, panoramic roof, a "premium" unbranded audio system, navigation with traffic, and Tesla's usual wireless software updates that are valid for one year. Autopilot is standard (automated emergency braking, front and side collision alerts), while Enhanced Autopilot (as Tesla says, "Your car will steer, accelerate and brake for you within almost any traffic lane!") is $5000 up front or $6000 after the car leaves the factory.
Other options are few. Upgraded 19-inch wheels cost $1500, a black-and-white interior costs $1000, and four of the exterior paints range between $1500 and $2500.
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