Tesla debuts lower-cost versions of its Model 3 and Model Y
Tesla (TSLA) has introduced new, lower-cost versions of its popular Model Y and Model 3 vehicles, both now available to order on the company’s U.S. website.
The two cars are now available for order on Tesla's US website. The Model Y Standard is rear-wheel drive, will start at $39,990, and has an estimated range of 321 miles with standard 18-inch wheels, News.Az reports, citing foreign media.
The Model 3 Standard comes in even cheaper, at $36,990, and has the same range. While the Model Y Standard is available for November/December delivery, the Model 3 Standard arrives a little later, with a December/January delivery range.
Appearance-wise, the Standard trim omits the front and rear light bars on the Model Y and comes in only three colors: Stealth Grey, white, and Diamond Black. The only interior color available is black.
Tesla stock gained more than 5% on Monday after the EV maker posted gifs on Sunday of a spinning company logo with the date "10/7" and what appeared to be car headlights shining through smoke. Shares pulled back nearly 4% on Tuesday following the update to Tesla's website.
Inside, both Standard trims feature the same 15.4-inch infotainment screen as the more expensive models. However, there's no second-row screen, the ambient lighting has been removed, and cheaper cloth seating inserts surround vegan leather, per Tesla's website. Interestingly, Tesla removed the AM/FM radio tuners from the Standard trim, and the Standard models can only perform "traffic aware cruise control," Tesla's version of adaptive cruise control, and are unable to perform "autosteer" functions like Autopilot and Full Self-Driving (FSD).
The Model Y and Model 3 Standard versions come after the federal EV tax credit expired in the US on Sept. 30. CEO Elon Musk said in the company's second quarter earnings call that the cheaper Model Y would come out after the tax credit expires.
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