Tesla just launched a new souped-up Model 3 as it battles slumping sales

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Tesla unveiled an upgraded version of its Model 3 Performance sedan on Tuesday. Tesla said the new Model 3 has more power, reduced energy consumption, and improved handling. The announcement follows a decline in sales, layoffs, and a drop in Tesla's stock. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time. Advertisement Tesla announced a new version of its Model 3 sedan on Tuesday as the electric vehicle maker faces a decline in sales. The upgraded Model 3 Performance, which starts at $52,990, can go from zero to 60 mph in 29 seconds and has a top speed of 163 mph, according to Tesla. Tesla said the vehicle has more power with less energy consumption compared to the previous Model 3 Performance version. The company said it also has a new adaptive damping system that adjusts to inputs from the driver and the road in real time for better handling, among other changes.