Tesla has fought back against Chinese brands threatening to take its crown with the launch of a new, cheap Model 3. Tesla lost its dominant position as a market leader in the electric car space in 2025 as sales of Chinese-built BYD models soared past the American marque.
BYD sold over 51,000 models in the UK last year, with only 45,500 Tesla models leaving the forecourts. The sales figures were down by almost 5,000 on the year before in a shattering 9.58% drop. Tesla has also faced stiff competition from new Chinese entrants with Omoda, Chery and Jaecoo mopping up plenty of attention from UK consumers.
The new Model 3 Standard is now £2,000 cheaper than the current base model, with prices starting from just £37,990. The Model 3 is now competitively priced among its European rivals, with the car £13,000 cheaper than a BMW i4.
The vehicle is also around £7,600 less than a Mercedes CLA Electric and £7,000 less than a Polestar. The new car will also take on its biggest rival, with the BYD Seal around £7,600 more expensive.
Motorists unable to splash the cash from the off can get their hands on the new Model 3 by taking out a lease. New deals mean the car is available for just £299 per month as long as motorists put down a £3,588 down payment over 36 months.
The new Model 3 Standard has a few of the luxuries taken out, with experts noticing that the cover for the cupholders has been removed, while cloth seats are fitted over leather. But this is still more generous than the US market, with the new Model 3 also equipped with smaller wheels.
Motorists who secure the new model can enjoy a capacity of around 70kWh battery ,capable of up to 332 miles of range on a single charge.
From a standstill, the car still packs a punch with the new Model 3 Standard capable of 0-60mph in just 6.2 seconds. However, the Standard model does have an electronically controlled top speed of just 110mph.