Tesla Will No Longer Offer $35,000 Model 3

When the Model 3 was first revealed, Tesla Inc TSLA promoted a more affordable electric car, announcing a base version for $35,000. While it wasn't available initially at launch, the company did offer the low cost "Standard Range" Model 3, although most of its life was spent off menu as an off menu special request.

Now a source tells Electrek that the bottom barrel priced Model 3 will no longer be offered. The new lowest cost option will be the 2021 Standard Range Plus Model 3, which starts at $37,990. It has 263 miles of range vs the discontinued mode's 220 miles.

Benzinga's Take: The off menu Model 3 was never a great choice. For a few thousand dollars more, customers got a much longer range and Autopilot standard, which itself is a $3,000 option. It was pretty clear Tesla didn't want to sell many of the SR Model 3s, with it being off menu only. The SR was only a software locked version of the Standard Range Plus. 

Photo courtesy of Tesla