Tesla price cut

DETROIT

Tesla is cutting $1,100 from the base price of its car designed for the mass market, the Model 3.

The electric car company now says on its website that the car starts at $42,900, still a ways from its goal of lowering the base price to $35,000.

For $42,900, buyers will get a rear-wheel-drive Model 3 in black with Tesla’s lower-range battery that goes 264 miles per charge. The price doesn’t include federal and state tax credits. The federal credit is now $3,750, but that expires at the end of the year.