The New Tesla Model 3 Revealed

The long-awaited redesign of the Tesla Model 3 has been announced by Tesla. The redesign includes various upgrades for the saloon including exterior and interior changes and an increased charge range of up to 423 miles.

These are exciting developments for the Model 3 and will provide upgrades that many who are looking to start driving an electric vehicle will find enticing in terms of choosing Tesla as the manufacturer of choice. For those who are looking to drive a newer Tesla vehicle, this will also be great news as they may want to upgrade from their current Model 3 to a newer vehicle or from another vehicle into this new and modernised design for 2023 / 2024.

In this article, we discuss the new changes as well as how the rollout of new Model 3s may affect the entire Tesla market.

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When Will the New Tesla Model 3 Be Available in the UK

The new Model 3 will be available in Europe next month but won’t be available in the UK until some time next year. The price isn’t expected to change and should be around the £42,000 mark in the UK when the new vehicles appear on the market. Depending on the specification, the performance model would be the maximum at just under £59,000.

Insights into What the New Model 3 Will Bring to the Market

The addition of a new Tesla vehicle in the market will naturally increase the number of Teslas that are available. The Model 3 is already the best-performing model in terms of sales worldwide for Tesla so it’s likely that the market will continue to increase with the number of new Teslas and therefore the number of used Teslas that will be available in both markets. 

Will the New Model 3 Change the Tesla Market?

It’s likely that it will take a year for the new Model 3 to make an impact on the current market but with Tesla manufacturing continuing to produce new vehicles, the number of used Teslas available is going to increase further. Should current owners of the Model 3 want to make an upgrade to a newer model, this will mean that they will sell their old model and add additional Model 3s to the market. 

Tesla’s Continued Innovation & Challenges

It’s not just the new Model 3 that is coming. The release of the Cybertruck, the Roadster 2.0 & the Tesla Model 2 (designed to be even cheaper than the current Model 3) are all approaching and this shows the ambitious plans of this manufacturer as we progress into 2024. Tesla has also caused ripples in the market by slashing prices throughout 2023, likely due to missing production and manufacturing targets. The infrastructure will also need to improve in the UK which is a government-related problem. It will be highly interesting to see how this ever-growing and changing market develops in 2024 and beyond.

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