Tesla has slashed prices of its Model 3 for a third time this year.
The new lower asking price of £39,995 is £3,000 less than before and is applied to the newly refreshed model.
It means the Model 3 is now just £1,760 more expensive than the top-spec Vauxhall Corsa Electric Ultimate, and just £200 more than the entry-level Vauxhall Astra Electric GS.
The latest round of updates represent the most major for the Model 3 since its initial reveal in 2017, with key changes including a smoother front bumper to maximise aero, as well as thinner LED headlights.
At the rear there are brighter lights, which are now more integrated into the boot.
Two new colours, Ultra Red and Stealth Grey, are also available.
Tesla says it has worked to improve the interior quality – one of the main pitfalls of its predecessor. There are new textiles and ‘real aluminium’ used for the cabin, while rear passengers get their own touchscreen to control the climate settings.
From launch, Tesla will not offer the ‘Performance’ model, but instead the standard car and a Long Range version.
The standard car is priced from £39,990 and brings a 318-mile range, while also being able to accelerate from 0-60mph in 5.8 seconds.
Above this sits the Long Range model, which packs a bigger battery that allows for a claimed range of 390 miles. It also features a more powerful motor that reduces the 0-60mph time to 4.2 seconds. This is priced from £49,990.
Both Tesla Model 3 versions can be ordered now, with first deliveries expected in January 2024.
It’s the third time Tesla has slashed prices of its top-selling electric saloon.
The first cut in January lowered the car’s RRP to below £50,000 and sparked prices of used models to freefall.