Tesla Stock Plunges While Analysts Question Model 3 Pricing Plan

Elon Musk has apparently turned to memes to cope with increased SEC scrutiny over his tweeting habits

The standard Model 3 with 0-60 miles per hour acceleration of 5.6 seconds "is built to achieve the same flawless 5-star safety rating as the longer-ranged version, which has the lowest probability of injury of any auto ever tested by the U.S. government", Tesla said in a statement late Thursday. The stock is still up from where it was two days earlier, when the CEO tweeted the company had news to share.

According to The Verge, Tesla CEO Elon Musk said, "All sales will be online" on a media call this morning.

Tesla will only sell its electric cars online as it accelerates its cost cutting so it can realize its long-running goal of selling a mass-market sedan for $35,000.

As of the fourth quarter, Tesla said it recently opened 27 new locations, bringing its total of stores and service centers to 378.

What is the Model 3?

Previously, Tesla's Autopilot feature was called "Enhanced AutoPilot, ' and it used to include more features".

Fewer showrooms: How will that work?

"There's no other way for us to achieve the savings required to produce this vehicle and still remain profitable". "Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free", the company said in a blog post.

The company is confident that will not happen often.

He said producing the vehicle at that price point is "excruciatingly difficult" and will require some layoffs, adding "I wish there was some other way".

The lower-priced model is expected to be available for order in Europe and China in three to six months' time.

Brie Larson Shared The Sweetest Moment With Girl At 'Captain Marvel' Premiere
Brie Larson made a young fan's night during the United Kingdom premiere of " Captain Marvel ". Jackson , Lashana Lynch, Gemma Chan, Ben Mendelsohn and Jude Law .

The Dual Motor Performance model ($58,000) has the same range, but the 0-60 plummets to a nuts 3.2 seconds.

Tesla has already announced thousands of job cuts since June, as it tries to balance its books after years of losses. It seems like a good move here to move sales online in conjunction with a cheaper $35,000 Model 3.

The electric carmaker on Thursday launched a Model 3 at a before-savings price of $35,000.

The online sales shift will enable Tesla to lower all vehicle prices by 6%, on average, including its higher-end Model S and Model X. Delivery in B.C.is noted as 2-4 weeks.

How self-driving is it?

We know there are many people who want to buy Model 3, but simply can't afford to do so. This in turn means that the company will be closing down numerous stores in the coming months.

"Tesla's main constraint continues to be the rate of production, not unit demand". The electric vehicle maker announced Thursday that they're making multiple versions of their most affordable Model 3.

As the electric vehicle maker has grown, Tesla has struggled to provide prompt fix service , and handle customer returns and refunds efficiently. Customers who prefer to experience the car's ferocity can add the Ludicrous Mode upgrade for $15,000, which reduces the 0-60 miles per hour time to 2.4 seconds.

Thursday was the third time this year that Tesla lowered the price on the Model 3, which recently started at $42,900.

A day after a potential contempt charge from the SEC and a day before the company must make a $920 million cash bond payment, Tesla stopped taking all orders on its website in anticipation of an announcement at 2 p.m.

Coupled with his SEC woes lingering overhead, Mr Musk hasn't exactly lost his investors' confidence, but he hasn't exactly filled them with it either.

Related news:

Hot News

isis-killer-beheading-video-story-top Battle over security clearances accelerates with report of Trump intervention
Mar 02, 2019 - 02:07
Trump's past statements indicating he would not and did not weigh in on Kushner's security clearance . The letter to Cipollone illustrated how the White House counsel's office has been hard in the past.

isis-killer-beheading-video-story-top Pakistan army says Indian aircraft cross LoC
Mar 02, 2019 - 01:50
The military action comes a week after Pakistan militants killed 42 Indians in a suicide attack . India said 300 militants were killed but Pakistan said there were no casualties.

isis-killer-beheading-video-story-top Rockies, Arenado finalizing 8-year, $260M contract
Mar 01, 2019 - 02:05
Arenado says the cold free-agent market the past two seasons wasn't a big factor but "obviously it's in your head". Nolan Arenado likes where he's at and the direction the Colorado Rockies are headed.

isis-killer-beheading-video-story-top Oklahoma QB Murray measured at 5-foot
Mar 01, 2019 - 01:29
Despite Murray's eye-popping skill set, there are some concerns about his height, measured at 5-9 7/8 while he was at Oklahoma. Those are great numbers for him considering many were anxious he was going to check in closer to 5-foot-9 or even under.

isis-killer-beheading-video-story-top Russia, hush money, lies: Takeaways from Cohen's testimony
Mar 01, 2019 - 01:15
The board further noted how Cohen calling Trump "a racist" and "a conman" during his testimony was "dishearteningly believable". They claimed Cohen and the Democrats are out to destroy Trump and that he is seeking a lesser prison sentence for his crimes.

isis-killer-beheading-video-story-top Pellegrini: 'Quadruple bid tough for Man City'
Feb 28, 2019 - 02:34
West Ham United are now ninth on the league table and a win vs Man City would take them within touching distance of that elusive seventh spot.

isis-killer-beheading-video-story-top Pell's bail revoked, sentencing set for March 13
Feb 28, 2019 - 02:22
At a morning briefing, Gisotti said Pell's five-year term as Vatican economy minister had expired on 24 February. But the bail application was later withdrawn, and no date has been set for an appeal hearing.

isis-killer-beheading-video-story-top Nearly all United Kingdom businesses are 'not ready' for no deal Brexit
Feb 28, 2019 - 02:17
MPs are staging a new round of non-binding votes on Brexit tonight - the third set since the deal was defeated on January 15. May updated the House of Commons on Tuesday after a Cabinet meeting at Downing Street with Brexit as the sole agenda item.

isis-killer-beheading-video-story-top Pete Davidson Defends Mac Miller's Honor During Standup Gig
Feb 28, 2019 - 02:13
Give him his money back and get him the fuck out. "I hope you're f**king proud of yourself", he tells the heckler. Pete Davidson had zero tolerance for a heckler who reportedly made light of rapper Mac Miller's death.

isis-killer-beheading-video-story-top Sony announces smartphone for movie-lovers
Feb 28, 2019 - 02:10
Additionally these Xperia 10 and 10 Plus also feature High-Resolution Audio with DSEE HX and LDAC for better audio possibilities. The Xperia XZ3 has a single 19MP sensor on the rear, but the company has chose to include three rear lenses on the Xperia 1 .

isis-killer-beheading-video-story-top Michael Cohen Disbarred After Conviction for Lying Under Oath
Feb 27, 2019 - 01:48
His willingness to cooperate with law enforcement has infuriated Trump, who called him a "rat" in December. Cohen's first public hearing will happen on Wednesday, as he faces the House Oversight Committee.

isis-killer-beheading-video-story-top Sanders demanded private jets while campaigning with Clinton: staffer
Feb 27, 2019 - 01:22
Briggs added, "It doesn't make me feel good to feel this way but they're some of the biggest a**holes in American politics". The staffers said it was so common for Sanders to request private jets that it became "a running joke in the office".

isis-killer-beheading-video-story-top Univision anchor Jorge Ramos detained while interviewing Venezuela's Nicolas Maduro
Feb 27, 2019 - 01:09
The Venezuelan government had set up multiple interviews with American journalists amid the country's deepening crisis. Univision is the leading Spanish-language television network in the United States, with millions of loyal viewers.

isis-killer-beheading-video-story-top Arsenal manager Emery prepared to rotate squad for Bournemouth
Feb 27, 2019 - 00:44
On Sunday for example my idea was to give him some minutes, but after recent injuries, I can not give him these minutes. We can not control the results of Manchester United , Chelsea or Tottenham.

isis-killer-beheading-video-story-top Aaron Hicks, Yankees Agree to Seven-Year, $70 Million Extension
Feb 27, 2019 - 00:43
Hicks is the second player general manager Brian Cashman has locked up to a multiyear contract in spring training. He will earn $8 million this season, $10.5 million annually from 2020 to 2023 and $9.5 million in 2024 and 2025.