Tesla Discontinues Its Cheapest Car Model

The unsubsidized starting price for a Tesla Model 3 is now set at $42,500.

Tesla’s Entry-Level Model Becomes Scarce

Tesla, the electric vehicle manufacturer, has removed the cheapest model from its lineup, the $39,000 Model 3 Standard Rear-Wheel Drive.

The Model 3 Long-Range Rear-Wheel Drive, priced at $42,500, now stands as the most affordable option. Electrek first reported this removal following a January update to the Model 3 range in the United States.

Quarterly Results Fall Short of Expectations

Furthermore, Tesla announced today its third-quarter results, delivering 462,890 vehicles between July and September, a 6.4% increase from last year, aided by price cuts and various incentives.

However, these figures fell short of analyst expectations, who had anticipated over 469,000 deliveries for the period. This outcome may challenge CEO Elon Musk’s projections of surpassing 1.8 million vehicle deliveries in 2023.

Frequent Recalls Cast Doubt

Additionally, Tesla has faced numerous vehicle recalls throughout the year. While most issues have been addressed through remote updates, the magnitude and frequency of these incidents could raise doubts among customers.

The recalls affected 200,000 vehicles in January, 2 million in February, 125,000 in May, 12,000 in June, 1.8 million in July, and over 9,000 in August.