The Tesla Model 3 has been making waves in the electric vehicle (EV) market since its debut in 2017. Known for its impressive range and affordability compared to other Tesla models, the Model 3 has become a popular choice for those looking to switch to an EV. And now, with the release of the 2023 model, the Model 3 has become even more attractive thanks to improved affordability.

The 2023 Tesla Model 3 is a carry-over model year, meaning it has basically the same specs as the 2022 model. However, Tesla has made the offer significantly more attractive, particularly in terms of price. The effective starting price for the Model 3 is now around $37,000, down from $46,000 just a year ago.

Here's what you need to know about the 2023 Tesla Model 3:

Range and Efficiency

The range and efficiency of the 2023 Tesla Model 3 remains the same as the 2022 model, according to the US Environmental Protection Agency (EPA). This means that the Model 3 RWD 18-inch version has a range of 272 miles, while the Long Range AWD 18-inch version has a range of 358 miles. The Performance 20-inch version has a range of 315 miles.

In terms of efficiency, the base Model 3 RWD is rated at 132 MPGe, while the Long Range AWD version is very similar. The Performance version's efficiency drops quite noticeably to 113 MPGe. However, Tesla does not reveal details such as battery capacity, so a rough estimate of 60-80 kilowatt-hours (kWh) is assumed.

Versions and Availability

There are three main versions of the Model 3 in the US: the RWD 18-inch, Long Range AWD 18-inch, and Performance 20-inch. The middle version, the Long Range AWD, is not currently available for order on Tesla's website but may appear in the manufacturer's existing inventory. Tesla says that it is expected to be "Available in 2023".

It's worth noting that the Model 3 RWD is the only rear-wheel drive version and the only one with LFP lithium-ion battery chemistry.

Prices

The most significant change for the 2023 Model 3 is the price. Tesla reduced the prices of its cars in January 2023, making them much more affordable. With the eligibility for the $7,500 federal tax credit (for Model 3 below $55,000 and Model Y below $80,000), the entry-level Model 3 RWD now starts at $42,990. This means that, including the tax credit, the effective starting price is $37,130 before state incentives.

However, it's important to note that the Model 3 RWD may not be eligible for the full federal tax credit beginning April 1, 2023, as its LFP batteries are imported from China instead of being locally produced. This would make it far less competitive compared to the Long Range version.

The Model 3 Long Range AWD (from existing inventory) starts at around $50,000, while the top-of-the-line Performance version starts at effectively $48,130.

Overall, the 2023 Tesla Model 3 offers the same range and efficiency as the previous model year but with a much more attractive price point. As EVs become increasingly popular, Tesla's commitment to improving affordability will likely continue to drive its success in the market.