When Will the Budget Tesla Model 3 Arrive?

Plenty of people were excited for the budget-friendly version of the Tesla Model 3, which should retail at $35,000. So far, that hasn’t materialized. Instead, we’ve seen more expensive versions, with even pricier all-wheel-drive Model 3s on the way.

Finally, Tesla CEO Elon Musk is providing some insight into when the $35,000 Model 3 is supposed to show up, and it’s a lot later than first promised. Tesla isn’t great at being punctual, but it looks like anyone waiting for a cheap Model 3 is going to keep waiting.

Musk said on Twitter that the $35,000 car is coming three to six months after Tesla starts churning out 5,000 Model 3s a week. The whole reason is that the company needs to have the right production volume, otherwise it would take a financial hit.

Stop laughing, because Musk was being serious. He’s for once concerned about his company not making money, which has been kind of its entire existence.

If you have a deposit on a Model 3 and are waiting for this budget version, what should you do? I’d suggest lease a different vehicle, like maybe a Nissan Leaf or Chevy Bolt, because it’s doubtful Tesla will hit that production figure anytime soon.