United States: Tesla has launched the restyled version of its Model 3 compact sedan in North America. The price of the vehicle remains unchanged. The restyle happened months after it attracted healthy demand upon its launch in China and Europe.
The move will refresh Tesla’s ageing vehicle line-up in its biggest market. This comes after a price war last year that helped the company meet its annual delivery goal at the cost of margins.
The changes brought an update to the single charge distance travel of the long-range variant. The update enables the vehicle to go 341 miles on a single charge, up from 333 miles earlier.
Tesla has also refreshed its wheel designs. The new variant is now available in two new colours, Stealth Grey and Ultra Red.
The Model 3 rear-wheel drive variant costs $38,990, while the long-range variant costs $45,990. The change in pricing came after both variants became ineligible for a $7,500 federal tax credit at the end of 2023 based on new guidance under the US Inflation Reduction Act.
Tesla has removed the most expensive Model 3 performance variant of the compact sedan at $50,990 before the federal tax credit from its North American websites.
The upgraded Model 3, developed under a project code-named “Highland”, was unveiled in China in September last year. The variant was sold at a higher price. It went on sale in Europe a month later.
Analysts attribute Tesla’s record quarterly deliveries earlier this month to the design change and the discounts and incentives the company offered at the end of 2023.
Even with the record deliveries, the American company lost its spot as the top electric vehicle maker by sales to China’s BYD in the fourth quarter. The decline in sales underscores the threat it faces from the Chinese firm. BYD has been able to drum up demand with cheaper vehicles.
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