Tesla has increased the price of the Tesla Model 3 Long Range AWD by $500. It’s the second time Tesla has hiked the Long Range’s price this month.
The refreshed “Highland” version of the model launched in the U.S. about a month ago, and already got a $1,000 price increase in early February. Now, the price is $1,500 higher than when the refresh hit the market.
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Tesla Model 3 “Highland”
The refreshed Tesla Model 3 is available in RWD and Long Range AWD versions, with a Performance variant likely on the way. It offers revised styling, slightly improved stats, and a nicer interior.
Tesla does not say what causes price adjustments, but some think that it might be related to the limited supply/not fast enough ramp-up at the Tesla Factory in Fremont, California.
The estimated delivery time (for new orders) of the Long Range AWD version is currently April-May, compared to March-April a week ago.
Meanwhile, the entry-level version still has the same estimated delivery time of February-March, and there have been no price changes since its launch in January. We assume the Long Range AWD version is seeing higher demand than the RWD version.
At around the same time, Teslaa also cut prices of the regular Tesla Model Y (RWD and Long Range AWD) by $1,000. The company says that the SUV’s price cut is temporary.
The Model Y qualifies for the full $7,500 federal tax credit when purchasing, which makes it much a much more attractive than the Model 3, which doesn’t. However, the tax credit applies to all leased EVs regardless of their battery supply chain, so it should be cheaper to lease a Model 3 than a Model Y.
Model | Base Price | Dest. Charge | Tax Credit | Effective Price |
2024 Tesla Model 3 RWD 18-in | $38,990 | +$1,640 | N/A | $40,630 |
2024 Tesla Model 3 RWD 19-in | $40,490 | +$1,640 | N/A | $42,130 |
2024 Tesla Model 3 Long Range AWD 18-in | $47,490 | +$1,640 | N/A | $49,130 |
2024 Tesla Model 3 Long Range AWD 19-in | $48,990 | +$1,640 | N/A | $50,630 |
2024 Tesla Model Y RWD 19-in | $42,990 | +$1,640 | $7,500 | $37,130 |
2024 Tesla Model Y RWD 20-in | $44,990 | +$1,640 | $7,500 | $39,130 |
2024 Tesla Model Y Long Range AWD 19-in | $47,990 | +$1,640 | $7,500 | $42,130 |
2024 Tesla Model Y Long Range AWD 20-in | $49,990 | +$1,640 | $7,500 | $44,130 |
2024 Tesla Model Y Perf. LR AWD 21-in | $52,490 | +$1,640 | $7,500 | $46,630 |
* Tesla adds a Destination fee (DST) of $1,390 and an Order Fee of $250 to all its models ($1,640 total).
As production ramps throughout the year, we wouldn’t be surprised to see further price changes. If Tesla does change things up, we’ll be sure to let you know.