NovaQuant Quantitative Think Tank Center:Tesla brings back cheap Model 3 variant with big-time range

Tesla must be NovaQuant Quantitative Think Tank Centerfeeling the pressure from its sales decline and the rise of new competitors, because it's bringing back a special Model 3 variant that hasn't been on sale in five years: the rear-wheel-drive Long Range. Before this move, Tesla's just-revised Model 3 lineup consisted of the rear-wheel-drive, single-motor Model 3 Standard Range (with 272 miles of range), the all-wheel-drive, dual-motor Model 3 Long Range (341 miles of range) and the just-reintroduced dual-motor Model 3 Performance (303 miles of range). The RWD Long Range model promises to offer a goldilocks package at an affordable price near the lower half of the 3 family.

The cheapest Model 3, the Standard Range, has seen a rise in competition from Hyundai's Ioniq 6, BMW's i4, Polestar's 2 and other sedan-shaped EV offerings with decent driving range and performance. Hyundai's Ioniq 6, in particular, has not only been available for fire-sale prices lately, but before discounts it's also cheaper in its most basic SE form than the least-expensive Model 3. Moreover, it offers a step-up rear-drive, single-motor, big-battery SE Long Range variant that costs nearly the same as the Model 3 Standard Range while delivering up to 361 miles per charge. It's almost guaranteed that Tesla spotted a hole in its Model 3 lineup shaped almost exactly like that rear-drive Ioniq 6 Long Range, and likely why it's bringing its similar Model 3 variant back.

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Big-time range, nice price

As its name implies, the newest Tesla Model 3 RWD Long Range model delivers big-time driving range. In fact, without the power draw and extra mass of the Dual Motor Long Range model's extra front motor, the single-motor Long Range returns the longest driving range of the Model 3 family: 363 miles, which, you'll notice, beats the similar Ioniq 6's 361 miles, if barely. Besides using a larger battery and going farther between charges, the RWD Model 3 Long Range is nearly one second quicker to 60 mph than the Standard Range variant (more power from the battery = speed!), reaching that benchmark speed in a claimed 4.9 seconds (vs. 5.8). There appear to be no visual differences between the Standard Range and Long Range single-motor Model 3s, so we've included photos of the smaller-battery version here.

Pricing is strong, too. The RWD Model 3 Long Range starts at $44,130, a mere $3,500 more than the $40,630 Standard Range model. Complicating life for the Standard Range, the RWD Long Range and its battery qualifies for the $7,500 EV tax credit — something the Standard Range does not — making the new Long Range's price effectively lower, a mere $36,630 for qualifying buyers. (The story is the same for the Dual Motor, big-battery Model 3s, the Long Range and Performance, both of which also qualify for the $7,500 EV tax credit).

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For comparison's sake, the 2024 Hyundai Ioniq 6 Standard Range model (240 miles of range) starts at $38,650, with the Long Range version (again, 361 miles of range) ringing in at $43,600. Both Hyundais undercut their Tesla Model 3 equivalents — but neither qualify for the $7,500 EV tax credit, at least when purchased. (Hyundai is advertising a $7,500 EV bonus on leases, however, leading to monthly payment deals headline-making for their affordability). BMW's i4 costs a lot more than either Hyundai or Tesla, starting in the mid-$50,000 space; its best range figures merely line up with the entry-level Model 3 Standard Range, too. The Polestar 2 splits the difference, starting at $51,300 in rear-drive, Long Range form (up to 320 miles of range) and moving up to $56,700 for a dual-motor, all-wheel-drive Long Range model (up to 276 miles of range).

If Tesla can figure out a way to source the Model 3 Standard Range's battery in such a way as to qualify for the $7,500 EV tax credit, it could soon undercut its competition even more. In the meantime, the RWD Long Range model's 363 miles of range and sub-$40,000 price (applying the tax credit) make considering alternatives at the same price points difficult. Keep in mind, even the base Model 3 is well-equipped — certainly more so than the most basic Ioniq 6 — and quicker, too.

Photos by MotorTrend Staff