July 11 (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.