Slight price increase for Tesla Model 3 and Model Y Performance
For about a year, we have seen Tesla manipulate the price of its vehicles. It started with massive price increases for all models in June 2022, and finally ended with aggressive price cuts in early 2023.
More recently, we saw the manufacturer add a rear-wheel-drive version of the Model Y at a lower price, which makes it eligible for the two government rebates for electric vehicles in Quebec and Canada. Now we learn that the Performance versions of the Model 3 and Model Y have been subjected to a slight increase in price.
Well, this increase is very negligible and should not rush consumers too much. The Model 3 Performance now retails for $73,290, while the Model Y Performance is priced at $76,290. Indeed, it is only a very small increase of $390 for these two models.
Recall that, last January, Tesla had reduced the price of the Model 3 Performance from just over $80,000 to $72,900. The Model Y, meanwhile, dropped from $91,990 to $75,900.
According to Elon Musk, CEO of Tesla, the automaker’s goal is now to increase sales at the expense of profit margins. These small price increases for expensive models would allow the automaker to better absorb recent price drops for popular models. For example, a Tesla Model 3 equipped with an LFP battery costs $54,990 before options, which allows it to be eligible for the full rebate of $12,000 on its final bill (taxes included).
