It will be a software-limited version of the Standard Plus, with 10-percent lower range, no heated seats, disabled music streaming and other downgrades.
The shift was needed to "simplify our production operations to better optimize cost, minimize complexity and streamline operations", the company added.
"Tesla is now facing a reckoning", said Jessica Caldwell, executive director of industry analysis at car-shopping researcher Edmunds. The Tesla configurator has a lease estimation tool for the three remaining Model 3 trims, and we've broken down a few of what we think are the key configurations, using a $3000 down payment for each. Buyers can activate them (and essentially convert the auto into a Standard Plus Model 3) at any time. Yes, these are the same stores that the EV company announced it was scaling back when it first started selling the low-priced Model 3.
Anyone looking to buy the "Standard Range" Model 3 will now have to do so at a Tesla store.
In addition to the Model 3 trim changes, the company said Autopilot is now standard on every vehicle it sells. Customers who want either the entry-level Standard version or the Long Range Rear-Wheel Drive version "will need to call us or visit any one of the several hundred Tesla stores", the website says. "But now, alongside the announcement that it has yet again reshuffled the Model 3 lineup, essentially killing the "$35,000" Standard Range model and upping prices across the board, Tesla also has announced that it has finally developed a leasing program. All Model 3 configurations are available, according to Tesla, and the price obviously varies with each.
So what will happen to the Standard Range going forward? Most vehicle leases give you the option to buy the auto outright at the end of the lease period, but not Tesla.
The Model 3 Standard Range Plus will lease for $504 a month, with $3,000 down for 36 months, with 10,000 miles per year There's a caveat: Lessees can't buy out their cars at the end of the lease. These cars will be upgraded over-the-air with full autonomy according to Tesla, which plans to use those Model 3s "in the Tesla ride-hailing network". The minimum deposit is $3,000, but the payment due at signing will vary from $4,199 to $4,584 depending on the variant.