Elon Musk's Tesla brings back cheap Model 3 variant with a big-time range

025 2024 Tesla Model 3 RWD Short Range side viewPhoto byMotorTrend Staff

Tesla is making a strategic move to boost its competitive edge by reintroducing a special Model 3 variant that hasn't been available for five years: the rear-wheel-drive Long Range.

The updated Model 3 lineup now includes the rear-wheel-drive, single-motor Model 3 Standard Range, which offers 272 miles of range; the all-wheel-drive, dual-motor Model 3 Long Range with 341 miles of range; and the recently reinstated dual-motor Model 3 Performance, which provides 303 miles of range.

The newly added RWD Long Range model is positioned as an attractive option, striking a balance between affordability and performance within the Model 3 family.

144 2024 Tesla Model 3 RWD Short RangePhoto byMotortrend Staff

The entry-level Model 3 Standard Range is facing increased competition from electric sedans like Hyundai’s Ioniq 6, BMW’s i4, and Polestar’s 2.

Notably, Hyundai’s Ioniq 6 is being offered at competitive prices, with its basic SE model being cheaper than the Model 3 Standard Range, even before discounts.

The Ioniq 6 also features a rear-drive, single-motor SE Long Range variant that matches the Model 3 Standard Range’s price while delivering up to 361 miles per charge. This market shift likely influenced Tesla’s decision to bring back its rear-wheel-drive Long Range variant.

The new Model 3 RWD Long Range delivers impressive driving range, achieving up to 363 miles per charge, which slightly surpasses the Ioniq 6’s 361 miles.

It’s also quicker to 60 mph, reaching it in 4.9 seconds compared to the Standard Range’s 5.8 seconds, thanks to its larger battery.

Although visually indistinguishable from the Standard Range model, the RWD Long Range is priced at $44,130, which is only $3,500 more than the Standard Range. However, it benefits from the $7,500 EV tax credit, making its effective price just $36,630 for eligible buyers.

077 2024 Tesla Model 3 RWD Short Range DashboardPhoto byMotorTrend Staff

In comparison, the 2024 Hyundai Ioniq 6 Standard Range starts at $38,650, with the Long Range version priced at $43,600.

Neither of these Hyundais qualifies for the $7,500 EV tax credit, though Hyundai is promoting a similar amount as a lease bonus. BMW’s i4, priced in the mid-$50,000 range, offers comparable range to the entry-level Model 3 Standard Range.

The Polestar 2 starts at $51,300 for the rear-drive Long Range model, with prices climbing to $56,700 for the dual-motor Long Range variant.

If Tesla can adjust the Model 3 Standard Range to qualify for the EV tax credit, it could further enhance its competitive position.

For now, the RWD Long Range’s 363 miles of range and sub-$40,000 effective price make it a compelling choice, especially considering its robust features compared to competitors.