Tesla sets March 2016 unveiling of less pricey Model 3

Tesla said Tuesday its upcoming Model 3 electric car aimed at less affluent buyers would be unveiled in March 2016, sending shares higher for the star automaker. California-based Tesla reported a loss for the third quarter of $230 million on revenues of $937 million. "We are on track to unveil Model 3 in late March 2016," said a letter to shareholders with the quarterly earnings from chief executive Elon Musk and finance chief Deepak Ahuja.