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The 2024 Tesla Model 3 sedan has become one of Australia’s best-selling cars, displacing the Toyota Camry for ultimate four-door honours and taking second place in the EV sales race.
Yet with such regular pricing changes, it's tricky to keep track of how much the Model 3 costs. This is no longer unique to Tesla, with other marques (including BYD, MG and GWM) all engaging in EV price battles.
Current Tesla Model 3 pricing
At May 21, 2024
It seems like the 'ink' has barely dried on our price update last month as Tesla has again lowered the cost of entry to its popular EVs.
This time the Model 3 sedan (as well as the related Model Y SUV) has dropped to its most affordable price yet - from just $54,900.
You can find more details for the full Model 3 price range (and Model Y) in the article below.
April 23, 2024
Prices for the 2024 Tesla Model 3 electric sedan have fallen – again.
Tesla Australia has slashed $3000 from the Model 3 Rear-Wheel Drive and Long Range AWD variants ahead of the imminent launch of the updated Performance AWD flagship.
It follows a $1000 price cut applied to the Long Range AWD earlier this month, announced at the same time as reductions of up to $8500 for the related Model Y midsize SUV.
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The Model 3 now starts from $58,900 before on-road costs, which is $1500 more than its lowest-ever price of $57,400 in pre-facelift form in July 2023.
It has been a chaotic month for the American electric vehicle brand, which has cut prices globally – including in Europe and China – as it faces increased competition and less demand than usual.
Last week, Tesla cut 10 per cent of its global workforce and announced a safety recall for the Cybertruck after owners reported a loose accelerator pedal cover could cause their vehicle to drive at full speed.
Tesla CEO Elon Musk also denied reports that it had cancelled its US$25,000 (AU$40,000) 'Model 2' project.
| Model | Pricing | Change (vs. early April 2024) |
|---|---|---|
| Rear-Wheel Drive | $58,900 | down $3000 |
| Long Range AWD | $67,900 | down $3000 |
| Performance AWD | TBC | TBC |
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April 4, 2024
The Tesla Model 3 Long Range variant has been given a $1000 price cut, just five months after the local launch of the facelifted line-up.
It's not likely to be a dealmaking change for most buyers, and realistically it's more of a realignment with earlier pricing – in January, the Model 3 Long Range variant's price increased by $1500 when compared to its July 2023 sticker.
The Long Range is now priced from $70,900 before on-road costs. That's $76,592 drive-away in NSW and $76,799 drive-away in Victoria – or as Tesla quotes on its own website, by its own calculations, $72,299 after you factor in five years of fuel savings.
If the price change results in a boost for Tesla, it'll likely be a welcome one. In the first quarter of 2024, Tesla posted its biggest drop in quarterly deliveries.
| Model | Pricing | Change (vs. January 2024) |
|---|---|---|
| Rear-Wheel Drive | $61,900 | – |
| Long Range AWD | $70,900 | down $1000 |
| Performance AWD | TBC | TBC |
January 2024
| Model | Pricing | Change (vs. July 2023) |
|---|---|---|
| Rear-Wheel Drive | $61,900 | up $4500 |
| Long Range AWD | $71,900 | up $1500 |
| Performance AWD | TBC | TBC |
From a high watermark in April 2020 (when the Model 3 Performance cost over $100K), Tesla prices have been fluctuating in a downward trend.
With the latest update bringing enhancements to ride, handling, and interior equipment (including standard seat ventilation and rear-seat infotainment, but ditching indicator stalks) it's little wonder prices have lifted.
However, compared to January 2023, both variants currently on sale are more affordable demonstrating how Tesla has managed to streamline production and delivery processes.
Tesla Model 3 pricing charted
For the visual learners, here's an illustration of how Model 3 pricing has fluctuated since its September 2019 launch.
2023 Tesla Model 3 features
| 2024 Tesla Model 3 RWD features | |
|---|---|
| 18-inch ‘Photon’ aero covered alloy wheels | Fixed tinted panoramic glass roof |
| Animal hide-free black interior | Acoustic glass (front, side and rear) |
| 15.4-inch touchscreen with over-the-air (OTA) software update capability | Ambient lighting dashboard and door strips (200+ colour combinations) |
| 8.0-inch rear passenger climate and entertainment touchscreen | ‘Tesla Vision’ camera-only ‘Basic Autopilot’ active safety assistance features |
| Built-in Google Maps with automatic Supercharging stop planning | Reversing camera with blind-spot view side cameras |
| Music and video streaming apps, arcade games, Bluetooth, and voice control | Heated and ventilated front seats |
| Tesla mobile app connectivity with ultra-wideband (UWB) support for phone key | Heated rear seats |
| Standard Connectivity for up to eight years, Premium Connectivity trial for first 30 days | Heated steering wheel |
| Built-in Dashcam and Sentry Mode recording (128GB USB stick included) | Electrically adjustable driver and front passenger seat |
| Nine-speakers with amplifier | Full LED headlights with auto high beam and integrated fog lights |
| Dual Qi wireless charging pads | Full LED tail-lights with rear fog lights |
| 65-watt USB-C charging ports | Auto power folding, dimming, heated wing mirrors |
| Dual-zone climate control with hidden front and rear air vents, Keep Climate On, camp mode and dog mode | Power tailgate |
| Pedestrian warning ‘Boombox’ external speaker | Camera-based automatic wipers |
| Flush exterior door handles with matte black exterior trim | 6.1 second 0-100km/h time |
| 2023 Tesla Model 3 Long Range features (in addition to RWD) | |
|---|---|
| LED front fog lights | 629km WLTP driving range |
| 17-speakers with dual subwoofers and amplifiers | Black artificial suede interior door material |
| 0-100km/h in 4.4 seconds | |
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