Tesla unveils cheaper versions of its Model 3 and Model Y
4 hours ago
- #Tesla
- #Electric Vehicles
- #Automotive Industry
- Tesla unveiled cheaper versions of Model 3 and Model Y, named Model 3 Standard and Model Y Standard.
- Model 3 Standard priced at $38,630, available in December or January; Model Y Standard at $41,630, available in November or December.
- New models are $5,000-$5,500 cheaper than Premium versions but lack features like an eight-inch second-row touchscreen and premium interior.
- Standard models have shorter range and slower acceleration compared to Premium models.
- Tesla shares dropped 4% after the announcement, as investors expected more competitive pricing.
- Tesla had promised a $30,000-range model, but production is delayed to Q4 2025.
- Other automakers, like Hyundai, are also introducing cheaper EV models.
- Tesla faces competition from Chinese automakers like BYD, which may surpass Tesla in global EV sales.
- Elon Musk's political activities have caused backlash, affecting Tesla's brand perception and sales.