"Tesla has spent more than a year teasing that "more affordable models" of its vehicles were on the way, and on Tuesday, the company finally revealed them. The company is now selling a more bare-bones version of the Model 3 sedan and the Model Y SUV which start at $36,990 and $39,990, respectively. The new versions, each dubbed "Standard," each get an estimated 321 miles of range on a full battery, and come with fewer features than the more premium rear-wheel or all-wheel drive variants."
"The release of the cheaper models is aimed to help boost Tesla back into growth after it saw sales decline in 2024. But the pricing is not as low as some may have hoped, especially considering that CEO Elon Musk once teased the idea of a $25,000 Tesla - before he ultimately killed that project."
"In fact, the new Model 3 does not even dip below the $35,000 price threshold that Tesla promoted in run-up to the car's launch in 2016. That sticker price, which helped put Tesla on the map, was never really offered save for a few months as an off-menu ordering option."
Tesla introduced lower-priced 'Standard' variants of the Model 3 sedan and Model Y SUV with starting prices of $36,990 and $39,990, respectively. Each Standard model is estimated to deliver 321 miles of range on a full charge while omitting several features present on higher-tier rear-wheel and all-wheel drive versions. The cheaper trims are intended to help reverse Tesla's sales decline in 2024 by boosting unit growth. Pricing landed higher than some expectations and far above previously suggested targets such as Elon Musk's earlier $25,000 concept. The new Model 3 still does not fall below the $35,000 threshold promoted in 2016.
Read at TechCrunch
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