Wedoany.com Report-Dec.8, Tesla launched a more affordable Standard version of the Model 3 in several European markets on Friday, approximately two months after its introduction in the United States. The move aims to strengthen sales amid growing competition and moderating demand for electric vehicles in the region.

Tesla's Model 3 is displayed during an event a day ahead of the official opening of the 2023 Munich Auto Show IAA Mobility, in Munich, Germany, September 4, 2023

Registrations of new Tesla vehicles in Europe have declined noticeably this year, even following the recent update of the Model Y. Many customers have chosen alternatives, including the Volkswagen ID.3 and the BYD Atto 3.

The new Model 3 Standard offers a driving range exceeding 480 kilometres while reducing certain premium materials and features. Tesla highlights its low total cost of ownership. First customer deliveries across Europe are scheduled for the first quarter of 2026.

In Germany the Standard model is priced at 37,970 euros, in Norway at 330,056 crowns, and in Sweden at 449,990 crowns. By comparison, the next trim level above it is priced at 45,970 euros in Germany.

A similarly positioned Standard Model 3 has been available in the United States since October at $36,990.

The company previously planned a completely new entry-level electric vehicle priced around $25,000 but later decided to offer lower-cost variants of its current Model 3 and Model Y platforms instead.

A budget-oriented Model Y was introduced in Europe in October as part of the same strategy to maintain competitiveness against a widening range of affordable electric vehicles from both European and Chinese manufacturers.

Although CEO Elon Musk has increasingly directed resources toward artificial intelligence, autonomous driving technology and robotics, the more accessible Model 3 and Model Y variants remain central to Tesla's expectations for revenue growth in the coming periods.