Tesla’s latest model, the Model 3 Performance, receives an additional $1,000 price increase.

New Tesla Model 3 Performance Gets Another $1,000 Price Hike

The price of the new 2024 Tesla Model 3 Performance is progressively increasing, making it a smart choice to have placed an early order in April when the latest version was released.

As per Tesla’s U.S. website, the top-tier model of the Model 3 now starts at $54,990, plus $1,640 in mandatory fees. This is $1,000 more than the price on April 29 and $2,000 more than the initial price. The price is nearing the $55,000 cap for the $7,500 federal tax credit for cars, indicating that the Model 3 Performance is already reaching the limit.

Tesla seems to be mindful of this and has adjusted the prices of popular options accordingly. For instance, the Black and White interior options are now free, whereas they were initially priced at $1,500 in April, to avoid exceeding the price cap. On the other hand, for the Model 3 RWD and Long Range AWD, the Black and White interior options now cost $2,000, $500 more than before.

The estimated delivery time for the Model 3 Performance is July 2024, slightly later than the previous June 2024 estimate, showcasing strong demand. In comparison, the Model 3 RWD and Long Range AWD can be delivered earlier in May-June but do not qualify for the tax credit.

The table below provides a summary of the base prices, destination charges, tax credit availability, and effective prices for various Tesla Model 3 versions:

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It’s important to note that Tesla adds a Destination fee of $1,390 and an Order Fee of $250 to all models, totaling $1,640. Also, the $7,500 federal tax credit may be accessible through leasing for all models and versions.

Overall, the Tesla Model 3 Performance is seeing increasing demand, prompting Tesla to adjust its pricing strategy.