Upgraded Model 3 by Tesla is launched in North America

Tesla has unveiled the updated version of its Model 3 in North America, keeping the same pricing. This upgrade is the result of the car generating a lot of curiosity when it was first introduced in China and Europe.

The goal of the action is to revive Tesla's ageing array of cars in its home market. It comes after a pricing war last year that helped the business meet its yearly delivery goals but had an adverse effect on its profit margins.

According to Tesla's website, the long-range and rear-wheel drive Model 3 variants have been upgraded with additional features, such as a rear display designed with backseat passengers in mind.

For $38,990, the Model 3 with rear-wheel drive is available. In the meanwhile, the long-range model costs $45,990 as they are no longer eligible for a $7,500 federal tax credit as of the end of 2023 because of new rules outlined in the U.S. Inflation Reduction Act.

The Model 3 Performance version was removed from Tesla's North American websites. It was formerly priced at $50,990 before the federal tax credit.

With a higher price tag, the improved Model 3, created under the project codename "Highland," debuted in China in September. A month later, it was on sale in European markets.

Analysts linked the company's end-of-year discounts and incentives with the design modifications to Tesla's remarkable quarterly delivery numbers earlier this month.

(Sources: investing.com, reuters.com)