On October 7, Tesla officially launched the new Model 3 Standard and Model Y Standard versions in the U.S. market, both priced under $40,000. These new versions are considered entry-level models for the Model 3 and Model Y, but are currently only available for sale in the U.S. According to the plan, these models will begin international deliveries in October.
According to Tesla’s official website, the starting price for the Model 3 Standard is $36,990 (approximately ¥263,300), which is $5,500 cheaper than the currently available rear-wheel-drive long-range (Premium) version. The starting price for the Model Y Standard overseas is $39,990 (approximately ¥284,700), which is $5,000 cheaper than the current Model Y RWD version.
As new models, both vehicles have simplified many features, making them more affordable. The Model Y Standard features a new front design, eliminating the continuous light strip in favor of a unified headlamp layout, keeping only the narrow headlamp units on both sides and a ventilation opening for cooling across the front bumper, giving it a cleaner visual appearance. There are no significant changes to the side or rear of the vehicle, which maintains the coupe-style SUV design and is equipped with 18-inch wheels. Additionally, the new Model Y offers three paint options: Shadow Gray, Pearl White Multi-Coat, and Diamond Black. The first option is free, while the other two cost an additional $1,000 and $1,500, respectively. At the rear, the new tail lights feature a connected design, but the diffused tail light in the center of the trunk has been removed, giving it a simpler look.
Interior changes include a 15.4-inch center touchscreen and a three-spoke multifunction steering wheel. Unlike the current model, the new version removes the panoramic glass roof and replaces it with a closed roof. The steering wheel has been changed from electric adjustment to manual adjustment, and the air conditioning vents are now manually adjustable. Additionally, features like the rear-seat entertainment screen and interior ambient lighting have been removed. In terms of power, the new Model Y is equipped with a rear-mounted single motor, offering a maximum power of 300 horsepower, and comes with a 69 kWh battery pack. With 18-inch wheels, the EPA range is 321 miles, while with 19-inch wheels, the range drops to 303 miles.
The Model 3 Standard starts at $36,990, $5,500 less than the previous rear-wheel-drive long-range (Premium) version. Its configuration is similar to the Model Y Standard, with a closed front bumper and cooling vents, narrow headlamp units with LED lighting. The interior still features a panoramic sunroof and a 15.4-inch center screen. In terms of power, it is equipped with a rear-mounted single motor offering 286 horsepower, paired with a 69 kWh battery pack. With 18-inch wheels, the range is 321 miles (WLTC), and with 19-inch wheels, the range is 303 miles (WLTC).
On October 2, Tesla released its Q3 delivery data, showing global vehicle deliveries of 497,000 units, a 7.4% year-over-year increase, far exceeding the market estimate of 439,600 units. In comparison, Tesla delivered 456,000 vehicles in Q2, an increase of about 40,000 vehicles. Of the total deliveries, 481,000 were Model 3 and Model Y, with 16,000 units from other models. Market analysis suggests that Tesla’s third-quarter performance was affected by a continued sales decline in the European market, but the slowdown was partially offset by strong demand in the U.S., where consumers rushed to purchase electric vehicles before the expiration of federal tax credits.
Industry experts believe that the launch of the more affordable Model 3 Standard and Model Y Standard is a response to the impact of factors such as the cancellation of U.S. electric vehicle subsidies. Some also argue that the price reduction is not substantial, with the new models being only about $5,000 cheaper than the original Model 3 and Model Y.
This news appears to have affected Tesla’s stock price, which dropped sharply in the late trading session. As of the close on October 7, at 4:00 PM Eastern Time, Tesla’s stock price was $433.09, down 4.45%, resulting in a market value loss of $65 billion (approximately ¥463 billion). Tesla’s total market value now stands at $1.44 trillion.
Currently, the Model 3 Standard and Model Y Standard versions are only available in the U.S. market, and it is unclear whether these new models will be launched in China.
