After a nearly nine-month hiatus, Tesla has reopened orders for its long-range Model 3.
The vehicle reappeared on the automaker’s website earlier this week with a steep price drop. It used to start at $57,990, but now sits at $47,240 before any interior, exterior or software upgrades.
However, this roughly 18.5% discount appears to have a catch.
Tesla previously announced a range of 358 miles before pausing orders for the longer-range vehicle last August. The company now lists the model with a maximum range of “325+” miles, for drivers who choose the 18-inch “Aero Wheels” configuration. The long-range Model 3’s projected range drops to 310 miles with the 19-inch “Sport Wheels” upgrade. As Engadget reports, the change may be related to Tesla’s ongoing cost-cutting efforts.
For reference, Tesla advertises a range of between 267 and 272 miles for its regular Model 3, depending on the wheels.
Like its stock, the initial price of Tesla’s vehicles has been particularly volatile in recent months. In December, the automaker cut prices for Model 3 and Model Y buyers to boost year-end sales, unnerving some of its investors in the process. Tesla issued additional cuts in April and raised prices again yesterday.
Tesla discounts cut into its margins in the first quarter of this year; the automaker reported a 24% drop in net profit in the first quarter of 2023 compared to the same period last year.
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In an exciting news for electric car fans worldwide, Tesla has announced that it is bringing back its long range Model 3 with an 18% discount. Now, customers in the United States, Canada and Europe have the chance to purchase the acclaimed, technological powerhouse car at a very reasonable price. Through extensive testing and research, customers can trust that the car offers the best of both worlds – with an efficient and non-polluting electric motor coupled with the spunk and power of a sporty sedan.
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