Elon Musk delivers on his promise as Tesla announces massive price cuts

The day Elon Musk would show the world, that an affordable yet technically superior electric car is possible, is here. Tesla has finally launched it’s long awaited, new standard Model 3, priced only at a staggering $35,000. The news comes after a series of cryptic tweets from Musk on Twitter. The company also introduced a new ‘standard model plus’ version to the Model 3 which has an improved interior and boasts more range and power at only $37,000.

Tesla also announced new price updates to their Model X, Model S and existing Model 3 cars which significantly reduced the prices by almost over $18k. The Model S is still priced at $79k for the standard version, but it’s upgrade variants all received discounts with the reintroduction of a new significantly reduced priced Model S. The Model X now starts at $88k and upwards, dropping from $96k.

The company intends to distribute their Model 3 as mass-market compact sedan car in a bid to further expand their customer base and drive the already growing popularity of electric-powered cars even further.

Musk, previously, stated his intentions of building an affordable electric car in 2017. “The whole point of Tesla was to build a great affordable electric car,” Musk said at the first rollout of the Model 3. “That’s what this day means. I’m confident it’ll be the best car in its class, gasoline or not, hands down.”

Tesla also have shifted all of their sales to their online platform to allow the company to lower car prices by about 6% on average, on their official blog. Musk said the online sales model will pave the way for the automobile manufacturers to sell cars in U.S. states that have franchise laws blocking Tesla stores.

Tesla also brought changes to their trial period, which now stands at 7 days or 1000 miles. Musk also, humorously, pointed out the loophole in the trial period where one could technically rent a Tesla for the weekend and return it for free. Intentional, or not, Tesla’s popularity among the public keeps rising further and further to unprecedented heights.