Tesla has officially launched its affordable models with the new Model 3 and Model Y ‘Standard’ versions hitting the company’s Online Design Studio on Tuesday.

It is the first time Tesla has revealed any details about what it planned to launch in terms of its new, lower-cost vehicles, which are mainly aimed at countering the loss of the $7,500 EV tax credit.

Here’s what Tesla went with for its release of the new affordable models.

Tesla Model Y ‘Standard’

The Model Y Standard is a stripped-down version of the all-electric crossover and starts at $39,990.

Deliveries are slated for November and December, the company says if you plan to order one, and it comes with a few major changes to improve efficiency and bring down cost for owners.

• New athletically tuned exterior and new alloy wheels to improve aerodynamics
• 15.4″ touchscreen in the front, the same as the other trims
• Available in three colors: Stealth Grey (free), White ($1,oo0 extra), Diamond Black ($1,500 extra)
• Textile and vegan leather interior
• Range sits at 321 miles
• New front fascia
• Covered glass roof (textile on inside)
• Windows are not acoustically laminated for a quieter cabin
• Manual mirrors and seats
• Smaller frunk
• No rear infotainment screen
• No basic Autopilot
• 69 kWh battery
• New 19″ Aperture wheels
• 0-60 MPH in 6.8 seconds
• 7 speaker stereo, down from 15 speakers in premium models

🚨 BREAKING: Tesla has launched the new Model Y ‘Standard’ for $39,990

Here’s what’s new: 🧵 pic.twitter.com/ILxbEsEniX

— TESLARATI (@Teslarati) October 7, 2025

Tesla Model 3 ‘Standard’

The Model 3 Standard was a surprise offering from Tesla, as many had only anticipated the company to refine and offer a more affordable version of the Model Y.

Coming in at $36,990, it features many of the same changes Tesla made with the Model Y “Standard,” all ways to improve price and make it less flashy than the more premium offerings.

Deliveries are also slated for November for this vehicle, and it features relatively the same stripped-down offerings as the Model Y Standard.

• Available in three colors: Stealth Grey (free), White ($1,oo0 extra), Diamond Black ($1,500 extra)
• Textile and vegan leather interior
• Range sits at 321 miles
• Covered glass roof (textile on inside)
• Manual mirrors and seats
• No rear infotainment screen
• No basic Autopilot
• 69 kWh battery
• New 19″ Aperture wheels
• 0-60 MPH in 6.8 seconds
• 7 speaker stereo, down from 15 speakers in premium models

@teslarati 🚨 Tesla’s Affordable Models are here! Let’s talk about them! #tesla #fyp #viral #teslaev #elonmusk ♬ Natural Emotions – Muspace Lofi

Tesla is offering a crazy choice on the Model 3 to help with its end-of-quarter push, but it is only available in Canada.

Tesla has been offering some pretty crazy incentives to help move vehicles in various markets, including discounts, Supercharging, and other offers.

In Canada, it is offering something pretty crazy: a $5,000 discount or Free Supercharging for life:

Tesla Canada 👀 pic.twitter.com/Gbk8D2VX5J

— Joe Taylor (@Joe_D_Taylor) September 23, 2025

This would bring the price of the two Tesla Model 3 configurations:

• Tesla Model 3 RWD – $49,990
• Tesla Model 3 LRAWD – $56,990
• Tesla Model 3 Performance – $64,990

The offer only stands if delivery is taken by September 30. The company describes the terms and conditions:

“Orders will default to $5,000 off total purchase price, deducted pre-tax. Requires you to contact Tesla to switch promotion to free Supercharging if desired. Supercharging promotion is tied to your Tesla Account and cannot be transferred to another vehicle, person or order, even in the case of ownership transfer. Used vehicles and vehicles used for commercial purposes (like taxi, rideshare and delivery services) are excluded from this promotion. You are still responsible for Supercharger fees, like idle and congestion fees, when applicable. Redeemable only at Tesla-owned Superchargers. Tesla reserves the right in its sole discretion to remove the free Supercharging from your vehicle in the event of excessive charging. “

The $5,000 discount in Canada, or the unlimited Free Supercharging, is a massive deal, as it benefits those looking for a deal or those who plan to use the car as a daily driver.

Tesla offers new deal on used inventory that you won’t want to pass up

Tesla has used a lot of different deals this quarter to help push cars out and bolster Q3 delivery figures.

• Lifetime Free Supercharging or $5,000 discount on Model 3 in Canada
• 1 Year Free Supercharging on Inventory Cybertruck, Model S, Model X in the U.S.
• 18 Months free Supercharging on Model 3 in the U.S.
• Lifetime Free Supercharging with Luxe Package on Model S and Model X in the U.S.
• Up to $2,000 off Model 3 and Model Y Inventory in the U.S.

These deals have all contributed to an increase in demand and minimal vehicle inventory in various markets.

Pope Leo XIV has voiced sharp criticism of corporate pay structures, singling out Tesla CEO Elon Musk and other business leaders as examples of the widening gap between executives and ordinary workers. The pontiff warned that excessive wealth concentration could erode societal values and fuel global polarization.

Pope Leo XIV’s comments seem to be guided by a misunderstanding of what Elon Musk’s pay package entails, and the net positive it would result to TSLA shareholders and the world as a whole.

Pope Leo XIV’s comments

In his first interview since becoming pope in May, Leo XIV, the first US-born head of the Catholic Church, pointed to reports that Musk could become the world’s first trillionaire. As noted in a report from the Financial Times, Pope Leo XIV singled out Elon Musk as an example of the type of wealth that was undermining “the value of human life, of the family, of the value of society.”

“Yesterday, the news (arrived) that Elon Musk is going to be the first trillionaire in the world. What does that mean, and what’s that about? If that is the only thing that has any value any more, then we are in big trouble,” the pontiff stated. 

Musk was not the only executive who caught the ire of the leader of the Catholic Church. He noted that while Musk’s pay was problematic, it was only an example of the “continuously wider gap between the income levels of the working class and the money that the wealthiest receive.” 

“CEOs that 60 years ago might have been making four to six times what the workers are receiving, the last figure I saw, it’s 600 times what average workers are receiving,” he stated.

Borne out of misrepresentation

A look at Pope Leo XIV’s comments surrounding Elon Musk’s wealth suggests that he may not necessarily be familiar with how the CEO earns his net worth. Musk’s wealth is tied to his stakes in his companies, with a good portion of it coming from Tesla and SpaceX. Thus, quite unlike what the mainstream media narrative might suggest, Elon Musk does not necessarily have a giant vault of gold coins he is hoarding somewhere.

If one were to look at Elon Musk’s pay package, which would result in him becoming a trillionaire, one would see that the CEO could only earn his keep if he proves immense value to Tesla and its shareholders. 

His payout might be notable, but he would have to lead Tesla into becoming an $8.5 trillion company first. At this level, Tesla would likely be a notable force of good that would provide a net benefit for people worldwide. Ultimately, it appears that Pope Leo XIV’s comments about Musk may be borne from information gathered only through mainstream sources, some of which tend to have a notable slant against the CEO.