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Elon Musk: reservations for $35,000 Model 3 begin March 31st

Elon Musk: reservations for $35,000 Model 3 begin March 31st


"No signature series for Model 3. Same reservation amount for all."

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Tesla's forthcoming Model 3 is all about offering an electric car for the mass market, and price is obviously a big part of that. And after a bit of uncertainty last night, Tesla CEO Elon Musk has confirmed that the Model 3 will start selling for "around $35k" — judged by some to be the ceiling price for an affordable new car (the average price is around $31k).

During an earnings call yesterday, Musk described the "default plan" for the company when selling new car models: put out fancier, pricier versions first (early buyers tend to also be enthusiasts) in order to recoup costs. But this morning, the Tesla CEO tweeted that there will be "no signature series for [the] Model 3." Reservations will start from March 31st in Tesla stores and online on April 1st for a $1,000 down payment, said Musk, before confirming the sticker price at around $35k.

A spokesperson for Tesla also told Bloomberg earlier this week that the price was "$35,000 before incentives," and it's worth remembering that there are various state and federal deals available for electric car buyers. Bloomberg notes that the base incentive is $7,500 in federal income tax credit, with individual states offering as much as $6,000 (in Colorado) in addition to this.

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