Drawbacks to Musk's Cheaper Model 3

Tesla Model 3

But if you still want to hold out for an even cheaper Tesla, the company has promised a base model that will cost $35,000 sometime in 2019. However, as Reuters reports, this week Tesla introduced a rear-wheel drive mid range battery model for $45,000.

Tesla said it has used the same battery pack as the long-range version with fewer cells for the mid-range version. It's not clear if this timetable for the debut of the midrange model was originally planned by Tesla, or if the timing was pushed up due to other factors such as gaining orders ahead of the halving of the $7,500 federal tax credit later this year.

Elon Musk has always hoped to scale production at Tesla and lower their design and technology costs enough to be able to offer a truly mass-market electric vehicle.

Tesla shares rose 1.3% to $267.43 in German trading compared to the previous day's United States close as of 10:45 a.m.in Frankfurt.

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DON'T MISS: Is the Tesla Model 3 the top-selling auto from an American brand?

If you go on Tesla's website to build a vehicle, there's a $3,000 option for 'Full Self-Driving Capability, ' which requires the $5,000 Enhanced Autopilot Package. The company's website, however, has the new Model 3 starting at $45,000 - advertised as costing $30,700 after estimated savings - with $45k being confirmed as the sticker price. The Long-range version will now only be available in a dual motor configuration while the mid-range version effectively replaces the single motor long-range version at a lower price point.

After incentives (federal tax credit) and potential gas savings (over a spread of six years), Tesla advertises the cost as being $33,200. At the same time, one eagle-eyed Twitter user noticed another update over at Tesla: the optional add-on "Full Self-Driving" feature was gone.

The cheaper "standard-range" Model 3 is still absent from the new, simplified ordering page, and the company has made no secret of the fact that it can not afford to lose money selling the cheaper cars, no matter the demand. The Model 3 performance costs $54,000.

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