Elon Musk has repeatedly mentioned the $35,000 price for his Model 3. The problem? Tesla can't make money with such a "low" price. In fact, last year Tesla lost $225,000 per hour.
Musk unveiled specifications for a faster and more powerful version of the Model 3 in a series of tweets over the weekend. It will cost US$78,000, more than double the US$35,000 base-model starting price discussed into the run-up before the electric car’s deliveries started last year. And that doesn’t include the Autopilot driver-assist feature.
Losing $2 billion in a year does focus the mind. Anyway, I don't know even one person who would buy a Model 3 at $35,000. The masses will have to wait for their electric nirvana.
“A Model 3 with a US$35,000 price will be the rarest of the rare,” said Kevin Tynan, a Bloomberg Intelligence analyst. “Perhaps the second most collectible Tesla ever, behind the one floating around in space.”