Tesla’s upcoming car to carry a cheap price tag than expected

    Last Updated: 11 February, 2016
    tesla model 3

    Rumors about Tesla’s next car have been wandering on the web for a long time, especially the pricing of the car. It is now said that the Model 3 would be priced at about $35,000. Quoting the price point, the company’s spokesperson confirmed the starting price to Bloomberg on Tuesday, making it clear that the $35,000 price tag is before incentives. This means that the Model 3 will be available a lot cheaper than Chevy Bolt, which is expected to make its debut in late 2016 for $37,500. That’s being said, Model 3 could end up costing only $25,000 with tax credits included.

    Bloomberg quotes that tax credits could save up to $10,000 in some states from the total cost. However, the U.S. government is offering a $7,500 incentive to all, no matter which state you live in. With incentives included, both the Chevy Bolt and Tesla Model 3 will retail at a price below $30,000 for sure.

    The Model 3 will be the company’s first mass-market car, which is likely expected to go on stage at an event at the end of March, but not sure whether Tesla will show off the actual car or just the images.

    Elon Musk has said that the Model 3 will not have as many features as the Model X and he is happy with the output of the car so far.

    “I do feel pretty optimistic about the Model 3. The key thing with the Model 3 is higher volume at a lower price. It is a smaller car, and without as many bells and whistles as the Model S or X,” Musk said at a recent event. “But the goal is to have a very compelling, affordable, mass-market electric vehicle and I feel pretty good about that goal.”