Tesla Model 3 Update

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Model 3

With the just announced availability of the $35,000 Standard Range Tesla Model 3, the lineup has achieved its final permanent pricing structure. Within the last 2 months, with numerous changes happening such as the sunsetting of the referral program and reduction to the federal tax rebate, the price of a Model 3 has decreased by $5000 pretty much across the board. Or has it?

New Trims and Pricing

First up is the above mentioned standard range Tesla Model 3. With a starting price of $35,000, you get a 220 mile range, standard interior, and an estimated delivery of 2-4 weeks. Downgraded are the premium interior options such as a power adjustable steering wheel, power seats, and a “basic audio” sound system. Infotainment takes a slight hit as well with no satellite view for navigation. The center console docking station is also absent although the 4 USB ports remain.

One tier above is the standard plus trim for $37,000. Included is what Tesla is calling the partial premium interior which includes power and heated front seats, LED fog lamps and an upgraded audio system with immersive sound. Premium seat materials are used which means cloth will only be available for $2000 less. This trim with autopilot is what Elon says is the sweet spot for price conscious buyers who still want a dash of premium features.

The Mid Range and Long Range trims share the premium interior as well as 264 and 325 miles of range, respectively. The Long Range is finally making a comeback. New orders were not being accepted after October 2018. It’s also received a slight boost to its range, similar to the Mid Range. While the Mid Range went up 4 miles, the LR RWD went up by 15.

Dual Motor and performance also keep the same premium interior and Long Range battery. Range remains at 310 miles since having that second motor uses slightly more power.

Autopilot Changes

Tesla Autopilot

Tesla Autopilot

The real shakeup to the lineup is the reintroduction of the Full Self Driving capability option. Autopilot used to include all features just short of self driving for $5000. Full self driving was an additional $3000 and was removed from the configurator in late 2018. Elon said it was confusing.

Now the Autopilot option has been reduced to traffic aware cruise control for $3000. This allows the car to stay within its lane on the highway and keep its distance from the car ahead. The new pricing will definitely get praise since a lot of cars these days come with some form of TACC. But they are far from $5000 options alone.

The new Full Self-Driving Capability, a $5000 option, which requires Autopilot (making it an $8000 option), contains features that we’ve seen available in Autopilot previously. Navigate on Autopilot and Autopark as well as Summon are available. Purchasing the car without Autopilot nor Full Self-Driving will run you up to $11000 post delivery.

How Many Will They Sell?

As Elon stated in the Q4 earnings call, “Demand is insanely high. But people just don’t have the money.” With the introduction of the Standard Range model, affordability has reached that promised pricepoint from the 2016 announcement. Lots of cost cutting measures were taken to get to this point. Most if not the majority of retail showrooms will be closed in the coming months. Online ordering will be the only way to get a car. Q1 numbers will more than likely be low. But with the ramp up for Q2 and the next tax credit reduction happening July 1st, sales could explode.

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