Tesla shares slipped Friday morning, down 0.94%, after CEO Elon Musk revealed a lower-cost Model 3 sedan was ready for order on the company’s website. They had gained as much as 2.2% in early action.
“Just released lower cost, mid-range Tesla Model 3 & super simple new order page,” Musk tweeted Thursday evening. The base price will be $45,000, with vehicles delivered through 2019 eligible for federal and state tax rebates that could drop the cost to as low as $35,000 in California. Musk said the real cost of the sedan would be closer to $31,000 after gas savings.