If You Invested $1,000 In Tesla When It Unveiled Model 3 On April Fools' Day Eight Years Ago, This Is How Much You Would Have Now

Eight years ago, on April Fool’s Day in 2016, Tesla TSLA unveiled its cheapest offering to date- the Model 3 sedan. Since then, the company has unveiled the Tesla Semi truck, the Cybertruck, and even its best-selling Model Y SUV but not a cheaper car.

What Happened: At the unveiling event in 2016, Tesla pegged the Model 3 at around $35,000. Currently, the base version of the Model 3 starts at $38,990 while its higher-end Long Range variant starts at $47,740.

It is the cheapest vehicle from Tesla if one does not account for the $7,500 federal tax credit available on Model Y. After the tax credit, the Model Y real-wheel drive version will start at merely $37,490 for eligible customers, a point further lower than the Model 3.

While Tesla has not released a cheaper car since 2016, it has revamped the Model 3’s interiors and exteriors. Deliveries of the refreshed Model 3 started in the U.S. earlier this year. However, it came with the same starting price as the older version of the sedan.

The Model 3 is among the more popular Tesla vehicles as compared to the higher-end Model S and X vehicles due to its lower price point. In the last quarter of 2023, Tesla delivered 461,538 Model 3/Y vehicles as compared to just 22,969 units of other models including Model S, X, and the Cybertruck. Throughout the year, the company delivered about 1.7 million Model 3/ Y vehicles, accounting for a whopping 96% of the company’s total deliveries last year.

Tesla Returns Since Model 3 Unveil: A $1,000 invested in Tesla in April 2016 would have fetched roughly 63 shares (based on the split-adjusted closing price of $15.84 on April 1, 2016). The 63 shares would be worth $11,075 as of Tesla’s closing price on Thursday, marking a near 1000% return in the eight years.

In premarket trading on Monday, Tesla stock edged 0.46% higher at $176.60, according to Benzinga Pro data.

An Upcoming Cheaper Car: Tesla is currently working on a cheaper car, expected to be priced around $25,000. The production of the vehicle is expected to start in the second half of 2025 at the company’s gigafactory in Texas.

Production will subsequently transition to Tesla’s upcoming factory in Mexico, Musk said during the company’s fourth-quarter earnings call in January.

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Read More: Tesla Model Y Gets $1,000 Price Hike Across The Board In The US

Tesla Model 3 on display at the Motor Expo 2023. Photo via Shutterstock