You can reserve Tesla’s low-priced Model 3 starting March 31

Like the Model 3, the Bolt comes with a price tag in the mid-$30,000 range and the ability to go 200 miles on a single charge.

Vehicle sales were strong, with the Model S up 51 percent in the U.S.to 25,202 units in the U.S.in 2015.

“Tesla is approximately doubling its cumulative sales every year. I think it will be well received, and then getting into production and delivery at the end of next year”.

The new vehicle is hugely important for Tesla. The company delivered only 206 SUVs in the fourth quarter and it curtailed production last month to work out some quality issues. With a starting price of $35,000, not including clean energy benefits, the Model 3 is a much more affordable Tesla and should appeal to a wider audience. Wall Street will be curious to see if Model X production is on the upswing because the vehicle has been the subject of several delays.

The fourth quarter highlighted “the huge difficulty” of Tesla ramping up production of the Model X so quickly, said analysts at Pacific Crest. “It misses its financial numbers, promises better future performance and shifts attention to upcoming model introductions – and its stock rises”, senior analyst Michelle Krebs at Autotrader said in a statement. Musk, in the letter to shareholders, said the Model 3 should be launched in 2017. However, the company said in its letter that it will sell 80,000 to 90,000 cars in 2016. But the carmaker boosted its delivery guidance when it posted earnings, sending its shares up 9% in after hours trading. Net loss was $107.6 million, or 86 cents per share, one year earlier in December of 2014.

The California group gave no figure, but added that he would also have a positive cash flow despite heavy investment. While Tesla’s forecasts around deliveries, profitability, and use of cash for 2016 offer relief, the outlooks also imply greater execution risk for Tesla in the second half of the year, they said. It also has the ordering open worldwide on the same date.

Revenue, however, increased 59% to $ 1.75 billion. For the full year, Tesla’s revenue rose 26 percent to $4 billion. Excluding some items, the company lost 87 cents a share, compared with the average analyst estimate for a 10-cent profit.