Tesla model 3: how to get the new $35,000 car

Tesla's entry-level $35,000 Model 3 electric car will be available for preorder on March 31, chief executive Elon Musk announced Thursday on Twitter. The tweets by the billionaire

followed a note in the company's earnings release on Wednesday that the Model 3 is on schedule for deliveries in late 2017. Tesla plans to begin installing production machinery this

year. In his tweets, Musk said consumers could begin preorders next month with a $1,000 deposit. TWEET He also confirmed the rumored $35,000 price tag. TWEET The Model 3 is Tesla's

entry-level offering, whereas the Model S and Model X SUV carry hefty price tags. Musk also announced that the company would not be releasing a "signature" version of the Model 3.

Signature versions of the Model S and X were put on sale and came fully loaded with the top features. A signature Model X costs around $130,000. Tesla cars can now park themselves in your

garage Tesla hopes the Model 3 will help boost its sale figures and increase the number of its electric vehicles on the road. The company posted positive 2016 guidance on Wednesday, saying

it expects to deliver 80,000 to 90,000 new vehicles this year, noting it is aiming for non-GAAP profitability for the year. This was above Wall Street estimates. Analysts said that Model 3

demand will be high due to its cheaper price, but Tesla will still need to push consumers to take the leap of faith on electric cars. "We expect demand for that to also be high,"

ISI Group auto analyst George Galliers told CNBC on Thursday. "The challenge at the moment for electric cars is really encouraging the public to try them, experience them, realize the

benefits and also to get over that misconception around range anxiety," he said. "People think that there's nowhere to charge them. The reality is if you have off-street

parking, you can of course charge it at home every night."