Tesla Model 3 lease program opens door to future ride-hailing network

Tesla Model 3 lease program opens door to future ride-hailing network

Bad news for Canadians who had their eye on Tesla's least expensive vehicle: Less than two months after announcing the new Model 3 Standard Range at a base price of $47,600 plus freight and delivery charges, the company is now selling it at $53,700 on its website. Leasing options were also provided for the newest Tesla. The $35,000 Model 3 will be range-limited by software to 220 miles, and its music streaming service, navigation and heated seats will be disabled.

Tesla's announcement also said it would begin leasing the Model 3, but would not offer customers the option to buy the cars after their leases expired, a departure from the typical industry practice and its own policy on other models.

The phasing-out of online Model 3 Standard sales comes a week after Tesla announced disappointing first-quarter auto deliveries.

This price change doesn't apply to the $35,000 Model 3 with Standard Range battery, which consumers will still be able to buy without Autopilot, according to a spokesperson.

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The rear-wheel-drive Long Range Model 3 has also been removed from the website and joins the Standard Range Model 3 as an off-menu model that must be ordered in-store or on the phone.

Aspirants can choose any Model 3 variant and with annual mileage options of 10,000, 12,000, or 15,000 miles.

A auto carrier trailer carries Tesla Model 3 electric sedans, is seen outside the Tesla factory in Fremont, California, U.S. June 22, 2018. They'll have to call or visit a store instead, and the vehicle won't come with Autopilot. Customers won't have the option to buy the auto at the end of the lease because the company plans to use the vehicles in a forthcoming Tesla ride-hailing network, according to the blog post. It realized this when it reversed the decision to close the stores and instead raised the prices of the Model 3. That means if customers change their minds, they can upgrade to a $39,500 Standard Plus model any time by paying the the difference and getting an over-the-air software update. "We're making these changes to ensure that our online order process is focused exclusively on the three Model 3 variants customers want most", the company says in its post. Deliveries of the entry-level models start this weekend - more than six weeks after the company starting taking orders. According to Tesla's data, the Standard Plus outsold the $35,000 base auto by a ratio of 6:1.

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