Tesla Announced Slashes Prices Again
In a bid to make electric vehicles more accessible to the Australian market, Tesla has announced yet another price cut for two of their top-selling models, the Model 3 and the Model Y. The new prices have come into effect after a previous reduction earlier this year.
The latest price cut has made the entire range of the Tesla Model 3 $3,400 cheaper, with the entry-level RWD model starting at $60,900 before on-road costs, and the top-of-the-line Performance model costing $86,900 before on-road costs.
Tesla has also introduced a new Long Range variant for the Model Y, while reducing the pricing of the existing models back to their starting prices at the beginning of 2023. The entry-level RWD Model Y now starts at $68,900 before on-road costs, with the Performance variant costing $94,900 before on-road costs.
Despite the pandemic-induced challenges faced by the automobile industry, the Model 3 and Model Y have continued to perform well in the Australian market, with the Model 3 being the third-best selling vehicle in February, following the Ford Ranger and Toyota HiLux. The Model Y, on the other hand, was the top-selling medium luxury SUV for the same month, outselling popular models like the Audi Q5 and Lexus NX.
Tesla has been actively reducing prices in various markets around the world, including up to 20% cuts in the US market for the Model Y. As a result, a price war broke out in China, with various domestic and foreign automakers also reducing their prices in response.
In addition to the price cuts, Tesla is currently working on an updated version of the Model 3 sedan, codenamed Project Highland, which is expected to receive a visual update to its front and rear ends, among other tweaks. The Model Y will also receive a refresh, codenamed Project Juniper, which is expected to enter production in October 2024.
The updated pricing for the 2023 Tesla Model 3 and Model Y are now as follows:
2023 Tesla Model 3 RWD: $60,900 (-$3400)
2023 Tesla Model 3 Long Range: $73,900 (-$3400)
2023 Tesla Model 3 Performance: $86,900 (-$3400)
2023 Tesla Model Y RWD: $68,900 (-$400)
2023 Tesla Model Y Long Range: $81,900 (NEW)
2023 Tesla Model Y Performance: $94,900 (-$400)
The prices mentioned above do not include order and delivery fees, but they do take into account the Luxury Car Tax, if applicable, and exclude on-road costs. Tesla's recent price cuts demonstrate their commitment to making electric vehicles more accessible and affordable to Australian consumers. It remains to be seen how these latest changes will impact sales in the near future.