Tesla nasdaq Tsla Stock Sees Modest Drop Amidst Debut of Upgraded Model 3 in North America

Tesla (NASDAQ: TSLA) Stock Sees Modest Drop Amidst Debut of Upgraded Model 3 in North America

Tesla (NASDAQ: TSLA) shares edged lower on Wednesday following the introduction of an upgraded Model 3 in North American markets. 

Tesla has launched the highly anticipated upgraded version of its popular Model 3 in North American markets. The electric vehicle (EV) giant revealed the upgraded sedan in a comprehensive post on the X platform on Tuesday night.

According to the company, the exterior of the Model 3 has undergone a transformation with “upgraded exterior styling optimized for max aerodynamics” and a “stiffer body & updated suspension tuning.”

The interior is no exception, with Tesla introducing ventilated seats, an 8-inch rear touchscreen, and 360-degree acoustic glass. The company also upgraded the sound system and center touchscreen.

The Model 3 is available in long-range all-wheel drive or rear-wheel drive configurations. The long-range version has an estimated range of 341 miles, while the rear-wheel-drive option is expected to cover 272 miles, per Tesla’s website.

Investors had eagerly anticipated the U.S. launch of the upgraded Model 3, which debuted in other markets in 2023. Tesla’s proactive disclosure in January revealed that the Model 3 and Model Y production for 2023 exceeded 1.77 million vehicles, with deliveries reaching nearly 1.74 million, a substantial portion of the company’s annual totals.

Tesla (NASDAQ: TSLA) released its latest production and delivery figures ahead of its fourth-quarter earnings, scheduled for January 24. This move gives investors a glimpse into the company’s robust performance, hinting at positive outcomes.

Tesla stock has surged by over 97% in the past 12 months.