The ‘base-spec’ $35,000 Tesla Model 3 is finally on sale…

Elon Musk Moves Tesla Shares With Cryptic Tweeting About News To Come

Earlier, Musk came under the scanner of US Securities and Exchange Commission (SEC) for his tweet about taking the company private.

To save money, Tesla will close many of its stores, but leave some open as galleries or "information centers" in high-traffic areas.

The company closed its order books this morning, before reopening them with the Model 3 Standard Range and Standard Range Plus added. A tech-savvy generation that grew up ordering goods online from Amazon sight-unseen has reached car-buying age and is Tesla's target market.

Bornstein, 45, said spending more than $50,000 completely online felt unusual, but he read numerous reviews and sat in a Model 3 at a Tesla store near his home before buying.

Tesla announced on Thursday that it would be ceasing all retail sales of its vehicles in favor of moving to an online sales platform.

Investors also were skeptical, in part because Musk predicted a first-quarter loss after pledging to be profitable every quarter.

"Quite literally, you could buy a Tesla, drive several hundred miles for a weekend road trip with friends and then return it for free", the blog said.

To save costs on its cheaper Model 3 version, Tesla plans to close most of its 250 stores and sell cars online. As a result of the switch, many Tesla stores will begin winding down operations over the next few months. (TSLA.O) unveiled Thursday is either a desperate move or a remarkably savvy strategy to adapt to a hard market - depending on who you ask on Wall Street.

When asked by a reporter whether he anticipated Tesla will turn a profit during the first quarter of 2019, Musk said it isn't likely - but Tesla could be in the black by Q2.

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Last night, Tesla announced that it's finally making its much-awaited $35,000 Tesla 3 sedan available for purchase.

In a bid to encourage buyers to shop online without test driving it at a physical location, the automaker is offering a seven day, 1,000-mile return policy.

FILE PHOTO: A Tesla Model 3 auto is displayed at the Canadian International AutoShow in Toronto, Ontario, Canada, February 15, 2019.

On the Model X side, meanwhile, there's no Standard Range version.

Since unveiling the Model 3 in 2016, Musk has been promising a US$35,000 version. Morgan Stanley analyst Adam Jonas, who rates shares of Tesla as Equal-weight, wrote in a note Wednesday that possible topics included news about Tesla's convertible bond repayment, a new strategic partnership or an unveiling of the Model Y or pickup truck.

Lastly, the Model S Performance has a range of 315 miles per charge, a 0-60 mph time of 3.0 seconds, a top speed of 155 mph, and a starting price of $99,000, a notable reduction over its previous price of $112,000.

Tesla CEO Elon Musk teased in a series of Twitter posts Wednesday that "some Tesla news" would be released Thursday at 5 p.m. ET.

According to CEO Elon Musk, delivering the Standard Range past year would have sent Tesla broke.

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