Land Rover has lowered the entry price point for its LR3 range with the addition of a V-6 engine option, reports Automotive News.

The LR3 SE equipped with a 4.0-liter V-6 carries a suggested retail price of $38,950, including a $665 destination charge. That's $6,045 less that the former base model, the LR3 SE with 4.4-liter V-8.

A premium package option for the V-6 model, priced at $3,000, adds leather trimmed seats, upgraded stereo and six-disc CD changer, power sunroof and second-row audio port. Those items are standard on the V-8 model.

Land Rover said 2005-model-year LR3s with the V-6 will be available in July. But all those units will be equipped with the premium package option, boosting the sticker price to $41,950. V-6-equipped LR3s for the 2006 model year will also go on sale this summer, priced at $38,950 with the option package.