After a hiatus of nearly nine months, Tesla has reopened orders for its long-range Model 3.
The car reappeared on the automaker’s website earlier this week with a sharp price drop. It previously started at $57,990, but it’s now $47,240 before any internal, external or software upgrades.
However, this 18.5% reduction appears to come with a catch.
Tesla previously announced a range of 358 miles before it paused orders for the long-range vehicle last August. The company now lists the model as having a maximum range of “325+” miles, for drivers who opt for the 18-inch “Air Wheel” configuration. The long-range Model 3’s expected range drops to 310 miles with the upgraded 19-inch “Sport Wheels.” As Engadget reports, the change may be related to Tesla’s ongoing cost-cutting efforts.
For reference, Tesla advertises a range of 267 to 272 miles for its old Regular Model 3, depending on the wheels.
Like its stock, the starting price of Tesla cars has proven particularly flaky in recent months. In December, the automaker cut prices for Model 3 and Model Y buyers to boost year-end sales, unnerving some of its investors in the process. Tesla issued additional discounts in April, and then raised prices again only yesterday.
Tesla discounts cut its margins in the first quarter of this year; The automaker reported a 24% drop in net income in the first quarter of 2023 compared to the same period last year.