Tesla's $35,000 Model 3 Standard is now only available via special order. The latter was announced alongside the Model 3 Standard Range as a $37,500 auto with 240 miles of range compared to the base car's 220-mile range.
What just happened? Tesla said that since introducing the Standard and Standard Plus editions last quarter, the premium model has outsold the Standard more than six to one. The company announced Thursday that it will not produce that base auto, but will fulfill orders for it with software limited versions of the Standard Range Plus, with 10 percent less range and several features disabled that can be purchased by owners later.
Standard buyers can upgrade to a Plus at any time, the website says. Conversely, buyers can also downgrade to the Standard Range auto whenever he or she desires and Tesla will refund the price difference.More news: Kovac confirms Coman-Lewandowski fight
Autopilot now comes bundled as a standard feature for less than the prior cost of the option. The carmaker is now backing away from its online-only ordering approach with the standard Model 3. Now, the vehicle will cost $39,500, effectively making Autopilot a $2,000 premium built into the price.
The website explained that a Model 3 Standard Plus used to cost $37,500, plus $3,000 for the Autopilot option.
The Model Y utility vehicle shares a platform with the Model 3.More news: Trump explains why he wanted Ivanka to lead World Bank
Tesla is also offering a Model 3 lease in the USA for the first time, though with a big caveat.
In today's announcement Elon Musk;s ambitious company say customers are now able to 'lease Model 3 for a small down payment and competitive monthly payments.' Leasing customers can select an annual mileage option of 10,000, 12,000, or 15,000 miles. The lowest minimum down payment for both is $7500, at which point the cheapest Model S lease is $1203 per month and the cheapest Model X is $1283 per month, both with more than $9000 due at signing and terms of 10,000 miles per year for 36 months. A really interesting movie is the introduction of Tesla leasing.
There's also a catch to Model 3 leasing.More news: Wells Fargo 1Q profit rises 14 percent, tops estimates
It's important to highlight that "customers who choose leasing over owning will not have the option to purchase their vehicle at the end of the lease". Customers won't have the option to buy the auto at the end of the lease because the company plans to use the vehicles in a forthcoming Tesla ride-hailing network, according to the blog post.