Author: Mary Mannis
STOCKHOLM, Dec 5 (Reuters) – Tesla launched a new lower-priced version of its Model 3 car in Europe on Friday, two months after it went on sale in the United States, aiming to boost sales as competition intensifies and demand slows.
Tesla is grappling with weak demand across Europe, with new registrations falling sharply this year despite a refreshed Model Y range, with many buyers opting for rival vehicles such as Volkswagen’s ID.3 and Chinese manufacturer BYD’s Atto 3.
Tesla described the Model 3 in a post on Deliveries are expected to begin in the first quarter of 2026.
Chief Executive Elon Musk has long promised to bring cars to the mass market, although last year he abandoned plans to build an all-new $25,000 electric car, opting instead to build lower-priced versions of existing models, a shift that raised concerns among analysts about higher-margin car sales.
Tesla launched a low-cost Model Y crossover in October to defend its market share against European and Chinese rivals offering increasingly cheaper electric vehicles in Europe, many of which sell for less than $30,000.
According to Tesla’s website, the new Model 3 Standard is priced at 37,970 euros ($44,299.60) in Germany, 330,056 Norwegian kronor ($32,698) in Norway, and 449,990 Swedish kronor ($47,820) in Sweden. On its German website, the second-cheapest Model 3 (called “Premium”) sells for 45,970 euros.
Tesla launched the standard version of the Model 3 in the United States in October, currently priced at $36,990.
Musk has been pivoting the company toward artificial intelligence, focusing on robotaxis and humanoid robots, but new vehicles are key to near-term revenue growth hopes.
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(Reporting by Marie Mannes; Editing by Terje Solsvik and Kate Mayberry)
