(Reuters) - Tesla on Thursday launched a new rear-wheel drive variant of its Model 3 long-range vehicle, at a price $5,000 lower than the all-wheel drive version, according to the electric vehicle maker's website.

The new Model 3 long-range variant is priced at $42,490.

There were no changes to the prices of the base Model 3, the long-range all-wheel drive and the performance variants.

Tesla reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter as price cuts and incentives helped mitigate cooling demand.

The company will report second quarter earnings on July 23.

(Reporting by Nilutpal Timsina in Bengaluru; Editing by Mrigank Dhaniwala)