Tesla’s Model 3 Could Cost As Little As $25K

In the reported quarter, Tesla sold 17,192 Model S SUVs, thanks to higher demand worldwide. The Elon Musk-led company expects to deliver 16,000 vehicles in the first quarter alone. What this ultimately means is that we can expect a huge volume of orders for the Tesla Model 3 and a waiting list that will go deep into next year and the following. That expectation was proven at least partially untrue by Tesla’s shipping forecast.

Musk also confirmed the company will officially pull the covers off its small Model 3 sedan in six weeks.

Tesla is reporting fourth-quarter earnings results on Wednesday afternoon.

Around that price point, the Model 3 will have several competitors. Federal and state tax credits may knock thousands more off the purchase price in the U.S.

In a conference call Wednesday, Musk said the company has been focused on meeting that challenge rather than boosting sales.

Tesla Motor Inc (NASDAQ:TSLA) also reaffirmed its plan for approximately 60 – 80% new vehicle sales growth in the current year.

It’s been a rough year for Tesla stock. Online reservations will be accepted starting April 1.

Tesla said revenue rose 27 per cent to $1.2 billion for the fourth quarter. GM said its Chevrolet Bolt, which will start at $30,000 after rebates and get 200 miles on a charge, will start production in late 2016.

Revenue: The company was expected to post fourth-quarter revenue of $1.85 billion, a 69% jump from $1.1 billion a year earlier, according to analysts’ estimates. The company plans to unveil its low-priced sedan, Model 3, on March 31, with deliveries expected to begin in late 2017. Savings are also realized from the lighter weight of the 3 (20 percent, roughly) and “economies of scale” that Tesla has built over the years, including a new paint shop that the company says can handle 10,000 cars per week at full tilt.

The automaker hit record production levels previous year, delivering 50,508 Model S and Model X vehicles.