Tesla Model 3 Standard Range Plus Orders Open In Europe, China

Tesla Model 3. Matthew DeBord  BI

The California-based firm said in a statement that Chinese customers can now order a standard range Model 3 variant whose starting price of 377,000 yuan ($56,167) will make it the cheapest version of the vehicle in China. Tesla says the change was motivated by safety, it claims that "the chance of an accident is much lower when Autopilot is enabled". Tesla said the option to lease a Model 3 is now open to US customers with a small down payment and competitive monthly payments.

The UK and Ireland do not yet have configuration pages, or prices, for the Tesla Model 3, but we can expect these to open up later in the current quarter.

On its ordering website, Tesla's default options are for customers to make a US$3,000 down payment and spend a total of US$4,199 at signing of a three-year, 10,000-mile annual lease.

Lessees interested in a dual-motor Long Range Model 3 can easily find themselves with a $700 per month lease payment.

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Typically at the end of a leasing period, you would buy the auto outright or trade it for a new model with a similar leasing plan. Leasing isn't available as an option for the Model Y on Tesla's site, likely because the crossover is so new and not actually on sale yet.

It's important to highlight that "customers who choose leasing over owning will not have the option to purchase their auto at the end of the lease". Last quarter Tesla introduced two versions of the auto with slightly different pricing the - Standard and Standard Plus. Customers who want this version from now on won't be able to get it from Tesla's online ordering menu. Thus, the latest iteration of $35,000 Model 3 loses its standard heated seats (sort of) and a couple miles of range (90% of 240 is 216, compared to its original estimated range of 220 miles). Notably, leasers won't have the option to purchase their vehicle at the end of the lease as Tesla aims to repurpose them for its future ride-hailing network.

"Given the popularity of the Standard Plus relative to the Standard, we have made the decision to simplify our production operations to better optimize cost, minimize complexity and streamline operations", Tesla says. Customers after the limited standard model will have to call or go into tone of their brick and mortar Tesla stores as the model has now been removed from the online store.

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