The price of Elon Musk’s Tesla Model 3 just more than doubled

SAN FRANCISCO- Elon Musk’s Model 3, once touted as Tesla’s $35 000 car for the masses, can now set a buyer back almost $80 000.

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 $78 000, more than double the $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.

The additions to this model which has made it increasingly expensive, the company said the it was planned, towards the vision which Musk had for the company to become a mass production player with vehicles which a variety of affordable to the broader public. However the $78 000 price has now puts the electric sedan beyond the reach of many consumers, and, even by Musk’s own estimates, the price tag is closer to the realm of luxury cars.

Kevin Tynan a Bloomberg Intelligence analyst said, “A Model 3 with a $35 000 price will be the rarest of the rare,”

“Perhaps the second most collectible Tesla ever, behind the one floating around in space.”

Photo Credit- Autoblog

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