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Tesla launches restyled Model 3 in North America

A IF metall tent stands next to a Tesla sign as workers picket outside of a Tesla service centre in Upplands Vasby, north of Stockholm, Sweden December 15, 2023. REUTERS/Marie Mannes
A IF metall tent stands next to a Tesla sign as workers picket outside of a Tesla service centre in ... A IF metall tent stands next to a Tesla sign as workers picket outside of a Tesla service centre in Upplands Vasby, north of Stockholm, Sweden December 15, 2023. REUTERS/Marie Mannes
A IF metall tent stands next to a Tesla sign as workers picket outside of a Tesla service centre in Upplands Vasby, north of Stockholm, Sweden December 15, 2023. REUTERS/Marie Mannes
A IF metall tent stands next to a Tesla sign as workers picket outside of a Tesla service centre in ... A IF metall tent stands next to a Tesla sign as workers picket outside of a Tesla service centre in Upplands Vasby, north of Stockholm, Sweden December 15, 2023. REUTERS/Marie Mannes

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Months after the car’s premiere in China and Europe, Tesla (TSLA.O.) unveiled the updated Model 3 small sedan in North America on Wednesday at costs that remained the same.

After a pricing war last year that helped the firm fulfill its yearly delivery goal at the expense of profitability, this action will modernize Tesla’s outdated car lineup in its largest market.

According to Tesla’s website, the long-range and rear-wheel-drive Model 3 variants have been updated with additional features, including a rear display for passengers in the backseat. The long-range model can now go 341 miles on a single charge, unlike the previous 333 miles.

Additionally, Tesla has updated its wheel designs, which are now offered in the new hues “Ultra Red” and “Stealth Grey.” According to updated guidelines under the U.S. Inflation Reduction Act, the Model 3 rear-wheel drive variation costs $38,990, while the long-range variant costs $45,990. As a result, both variants will no longer be eligible for a $7,500 federal tax credit by the end of 2023.

Tesla has removed the Model 3 Performance variation from its North American websites. Before the federal tax credit, this model was the most costly small car, at $50,990.

In September of last year, the updated Model 3, created under the “Highland” project codename, was introduced in China at a higher cost. A month later, it was on sale throughout Europe.

Analysts credited the company’s end-of-year discounts, incentives, and design modifications for Tesla’s record quarterly deliveries earlier this month.

However, China’s BYD (002594. SZ) overtook the American company as the top producer of electric vehicles by sales in the fourth quarter, highlighting the threat that the Chinese company poses because it has successfully generated demand for its less expensive models.


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