However, Tesla is promoting the auto as costing as little as $30,700 by factoring in "gas savings" and all possible federal and local electric vehicle tax incentives (but not the destination charge).
The newer Model 3 is also slower than its all-wheel drive counterparts, needing 5.6 seconds to reach 60 miles per hour and topping out at just 125 miles per hour. "Non-cell portion of the pack is disproportionately high, but we can get it done now instead of February", Musk Tweeted.
The new midrange version of the Model 3 has a single motor and rear-wheel drive, and a battery pack that will go around 260 miles on a charge. On that page, customers can choose one of three versions of the Model 3 - the top-of-the-line performance version, the long-range battery one, and the new midrange battery variant.
Build combinations are reduced versus other versions of the Model 3 lineup.
The cost includes a mandatory premium interior and audio package and the only functional option available is Tesla's Autopilot system, which is $5,000.
Tesla unveiled a lower cost version of its Model 3 sedan on Friday, CEO Elon Musk announced on Twitter, though it's not quite as cheap as buyers may be hoping. There are five exterior colors and two wheel designs, and the new enhanced Autopilot is a $5,000 option.
"As Model 3 production and sales continue to grow rapidly, we've achieved a steady volume in manufacturing capacity, allowing us to diversify our product offering to even more customers", a Tesla spokesperson said in a statement. It has what the carmaker describes as "a unique architecture that is not yet in production".
In addition to these changes, Tesla is temporarily removing the $3,000 Full Self-Driving option from all of its models, which it said prepared them for autonomous driving capability when the software is available to make it work. The estimated delivery time for the Mid Range is six to 10 weeks. So, if you do go with that option, your sweet Federal Tax credit is going to be diminished.
Hitting that price target is important, because the federal tax incentives - worth up to $US7,500 per vehicle - are due to start dwindling in January. But will you meet them halfway?