After a nearly nine-month hiatus, Tesla has reopened orders for its long-range Model 3.
The vehicle reappeared at the automaker website earlier this week with a sharp price drop. It previously started at $57,990, but now sits at $47,240 before any interior, exterior or software updates
Still, this roughly 18.5% discount seems to have a catch.
Tesla formerly announced a range of 358 miles before that orders on hold in the longest-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 is reduced to 310 miles with the 19-inch “Sport Wheels” upgrade. As Engadget reports the change may be related to Tesla’s continuing cost reduction efforts.
For reference, Tesla advertises a range of 267 to 272 miles for its regular old Model 3, depending on the wheels.
Like its shares, the starting price of Tesla vehicles has been particularly volatile in recent months. In December, the automaker reduced prices for Model 3 and Model Y buyers to boost year-end sales, mystifying some of their investors in the process. Tesla issued additional cutbacks in Apriland then raised the prices again yesterday.
tesla discounts cut at their margins in the first quarter of this year; the automaker posted a 24% drop in net revenue in the first quarter of 2023 from the same period last year.
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