Tesla resumed US orders for a lower-priced version of the Model 3, range

May 3 (Reuters) – Tesla Inc (TSLA.O) has resumed taking orders for its Model 3 long-distance vehicle in the United States, the company’s website showed late Tuesday, after temporarily halting last year due to backlogs in deliveries.

The long-term version of the entry-level Model 3 is priced at $47,240 today, about 18.5% less than its $57,990 price last August when Tesla stopped taking orders in the United States and Canada.

“Waiting list too long. Will be enabled again as we ramp up production,” Chief Executive Officer Elon Musk tweeted at the time in response to a user’s question about the order halt.

The Model 3 Long Range has a range of “325+” miles per payload, down from 358 miles. It qualifies for a government subsidy of $3,750, compared to a full subsidy of $7,500 for the Performance version of the Model 3.

Tesla expects to resume deliveries of its long-range Model 3 electric sedan in June, according to the website. However, it is still not taking orders in Canada, the website indicates.

The entry-level Model 3 long-range version has a range of over 325 miles (523 kilometers) on a single charge.

To boost sales, Tesla has been regularly modifying the prices of its vehicles since the beginning of this year. After lowering prices earlier, the company raised them slightly Tuesday in Canada, China, Japan and the United States.

Musk said Tesla was willing to sacrifice margins for sales volume in the face of a weak economy, but also wanted to raise prices back up, if it could, to match shipments with output.

Reported by Gokul Pisharody and Akriti Sharma in Bengaluru; Edited by Savio D’Souza

Our Standards: Thomson Reuters Trust Principles.