Tesla Slashes Model 3 Performance Price, Adds New Dual Motor Badge

Jun 28, 2018 at 9:20am ET

By: Steven Loveday

The Tesla Model 3 Performance and Dual Motor will cost less than CEO Elon Musk's original figures.

When Musk first announced these new Model 3 variants, the Performance version was to cost $78,000 with the standard Dual Motor starting at $54,000. Now, the fully loaded Model 3 Performance rings in at $72,000, a whopping $6,000 less, while the non-performance all-wheel-drive Model 3 is $1,000 cheaper than initially reported, at $53,000.

Keep in mind that the Tesla Model 3 Performance version comes fully loaded, aside from Autopilot and Full Self-Driving. If you add them at the time of placing your order, Autopilot will cost the usual $5,000, and Full Self-Driving is $3,000. If you choose to add these features after the fact, the prices jump to $6,000 and $5,000, respectively.

How is Tesla -- while in the midst of a time crunch to become profitable -- able to reduce the prices of these cars?

According to Teslarati, Tesla has made $8,000 worth of features optional. This includes $1,500 for white seats, as well as $1,500 for premium paint options. Also, a set of features much like the current $5,000 Premium Package is optional. Coined the "Performance Upgrades" package, these include aluminum alloy pedals, a carbon fiber rear spoiler, 20″ Performance Wheels, Michelin Pilot Sport 4S summer tires, and a top speed boost. This means you could purchase a Model 3 Performance without all of these features for $64,000.

In terms of the non-performance Tesla Model 3 Dual Motor, the additional motor is now a $4,000 upgrade rather than $5,000.

It's also important to reiterate that orders placed prior to July 1 will come with lifetime Premium Connectivity. If you place your order on or after that date, you'll get Standard Connectivity for free, plus a free year of the upgraded service. Once the free year expires, there will be a fee to enjoy "satellite maps with live traffic visualization, in-car streaming media and over-the-air updates via Wi-Fi & cellular."

Based on the configurator, the Model 3 Performance delivery window is showing 2 to 4 months, while the Dual Motor variant is listed at 3 to 5 months. The configurator also shows an updated timeline for the standard battery Model 3, at 6 to 9 months.

Tesla has also added a new badge for the Dual Motor Model 3. While we don't have a definitive answer, the consensus is that the red underline represents the Performance variant.