Tesla Inc (TSLA) Finally Brings Model 3 To East Coast Showrooms

Tesla Inc (NASDAQ:TSLA) is finally letting potential customers in a few east coast cities get their hands on the new Model 3 sedan.

No, they aren’t actually delivering the vehicles to customers. That will probably take several more months — if not years. But as CNBC reports, the electric vehicle maker will at least bring a handful of the new cars to showrooms for some hands-on experience:

Tesla is bringing its Model 3 to showrooms on the East Coast, giving local reservation holders a chance to see the car in person months after the company began production.
The electric-car maker will pull the cloth off Model 3s on Friday at its store in Manhattan’s Meatpacking district, and in its showroom on Boston’s Boylston Street. The car will debut in Miami this weekend.

Customers will be able to sit inside the car, hit some buttons, ask questions about it, and if they’re brave enough, plunk down a $1,000 deposit for a car that might take two years to get to them.

The move marks the first time the Model 3 will be available to demo on the east coast, after the company put a few of the vehicles in showrooms in Los Angeles and Palo Alto, California recently. The EV starts at $35,000, making it the first mass market car in Tesla’s history, but production delays have plagued its release, and the company has repeatedly pushed back its production goals as a result.

Tesla Inc shares closed at $350.02 on Friday, up $5.45 (+1.58%). Year-to-date, TSLA has gained 12.42%, versus a 5.08% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #14 of 24 stocks in the Auto & Vehicle Manufacturers category.