Tesla (TSLA) has unveiled a new version of its Model 3 electric sedan for the North American market as it tries to boost slumping sales.
The new Model 3 helps to refresh Tesla's electric vehicle line-up in its biggest market. The company said the pricing for the Model 3 remains the same despite the vehicle’s revamp.
The new Model 3 includes features such as longer driving range and a rear video display for backseat passengers, according to Tesla.
The long-range version of the Model 3 can now go 341 miles on a single battery charge, up from 333 miles previously, said the company.
Tesla has also changed the wheel design on the Model 3, and the vehicle is now available in two new colours, “Stealth Grey” and “Ultra Red.”
The Model 3 remains priced between $38,990 U.S. and $45,990 U.S., depending on the model chosen.
Sales of the Model 3 have declined in North America after the vehicle became ineligible for a $7,500 U.S. federal tax credit at the end of 2023.
Tesla recently removed the Model 3 “performance” variant, which was the most expensive version of the compact electric sedan, and cost $50,990 U.S.
The new Model 3 was first made available in China last September. It went on sale in Europe in October 2023.
Telsa lost its ranking as the world’s top electric vehicle maker by sales to China's BYD in the fourth quarter of 2023.
The stock of Tesla has declined 6% to start 2024. However, the company’s share price is up 98% over the last 12 months and trading at $234.96 U.S. per share.
