Tesla launches cheaper Model 3 in Europe

Tesla's cheapest Model 3 is now available in Europe.

The company started offering a stripped-down version of the model across its European markets on Friday, notifying its users via an in-app message.

The Model 3 Standard is "our most affordable vehicle," Tesla wrote in the message. "(It) gives you all the best Tesla features with a lower cost of ownership over time."

The price of the Model 3 Standard varies by market. In Germany, it starts at €37,970, while in France and Italy, it's a bit cheaper at €36,990.

While that's roughly €8,000 cheaper than the next trim (which is now called Premium), you do lose quite a lot in terms of features.

We've covered the details for both the Standard trims of Model Y and Model 3 on Mashable. In short, compared to Long Range Rear-Wheel Drive Premium trim, you get lower range, slower acceleration, no additional display for passengers in the rear, no heated seats in the back, less fancy decorative elements, partially textile seats, and fewer colors on offer, among other reductions.

Some good news: Unlike in the U.S., the Model 3 Standard keeps Basic Autopilot with Autosteer; and unlike the Model Y Standard, it keeps the Panoramic Glass Roof. There are other, subtle differences between trims in Europe compared to America. For example, in Europe both the Standard and the cheapest Premium trim have seven loudspeakers; in the U.S. the Premium variant gets two speakers more.

The new model comes amidst a painful slump in sales across most European markets for Tesla, likely because of CEO Elon Musk's politics, but also due to strong competition from China's BYD and other electric vehicle makers.

Another bit of good news that may entice users to choose Tesla, though, is the latest Consumer Reports' auto brand ranking, which puts Tesla in the 10th place for the first time, a big jump from the 18th place last year. On the other hand, Germany's TÜV association recently highlighted some of Tesla's models as the least reliable it ever tested.