This paper presents and evaluates the Boundary Diagram Tool for change impact analysis of large Simulink designs of embedded systems. In our previous work, we developed the Reach/Coreach Tool for model slicing within a single Simulink model. The current work extends the Reach/Coreach Tool to trace the impact of model changes through multiple models comprising an embedded system, including network interfaces. The change impact analysis results are represented using various diagrams motivated by industrial needs. Several techniques are used to improve understanding of impact analyses of large industrial systems. The tool has been integrated into the software development process of a large automotive OEM (Original Equipment Manufacturer) to support the following activities: change request analysis and evaluation, implementation, verification and integration. The tool also aids impact analyses required for compliance with functional safety standards. The tool’s effectiveness has been demonstrated on production-scale models.