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Tesla finally launches $35,000 Model 3, and moves all sales online

Tesla Inc. may have made good on its long-standing promise to offer a Model 3 for $35,000, but its stock fell late Thursday as Chief Executive Officer Elon Musk said the Silicon Valley car maker is likely to report a loss in the first quarter.

Tesla said Thursday its cheaper Model 3 version will have a shorter driving range and new interior options, and its website shows it available in the U.S. in as little as two weeks. After tax credits and gas savings, Tesla says the car costs about $24,450.

The lower price and the new online-only ordering system also announced Thursday “should substantially widen the Model 3’s appeal,” said Karl Brauer, an analyst with Kelley Blue Book.

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