2024 Tesla Model 3 Costs More Than Outgoing Model In China, Europe

In China, the new Model 3 RWD sees a 12-percent price hike as it starts at $35,800 compared to $32,000 before.

Dan Mihalascu

By: Dan Mihalascu

Sep 1, 2023 at 9:39am ET

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The facelifted Tesla Model 3 is finally here – well, not yet in the US, but it's coming – and it brings a surprising amount of updates in pretty much all areas.

Whenever a comprehensive facelift like this launches, prices go up, and the 2024 Model 3 makes no exception. In pretty much all the markets it has launched, the prices have increased compared to the outgoing model.

That's the case in China, the place where the refreshed Model 3 is built at Tesla's Gigafactory Shanghai. The new Model 3 RWD starts at $35,800 (259,900 yuan), according to Tesla's Weibo account announcing the start of pre-sales (via CnEVPost). That's a significant price hike of 12 percent over the outgoing Model 3, which had a starting price of almost $32,000 (231,900 yuan).

The Tesla Model 3 Long Range with Dual Motor AWD has a pre-sale starting price of $40,750 (295,900 yuan), which is not much lower than the outgoing Model 3 Performance's base price of $45,700 (331,900 yuan).

Now, it's worth noting that when EV makers launch a new model in China, they typically start with a set of pre-sale prices, which are then lowered when the model goes on sale. That being said, it's not clear if Tesla will adopt this strategy. The EV maker expects both versions of the new Model 3 to start shipping in the fourth quarter in China.

New Tesla Model 3 prices have gone up in Europe as well, although the increases are much smaller. In Germany, for example, the new Model 3 RWD starts at $46,700 (42,990 euros), $1,090 (1,000 euros) more than its predecessor. The new Model 3 Long Range starts at $56,500 (51,990 euros), which is also 1,000 euros more than before.

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France sees similar price increases, with the base 2024 Model 3 RWD starting at $46,700 (42,990 euros), up 1,000 euros, and the Model 3 LR priced from $55,410 (50,990 euros), also up 1,000 euros. Italy also sees a 1,000-euro price hike on each Model 3 trim. In these major European markets, both Model 3 trims have an estimated delivery in October-November 2023.

We've checked Tesla's configurator for other major European markets and the price increases are similar. In the UK, however, Tesla's website shows the old Model 3 in the configurator, which is a bit odd considering that the new Model 3 is now available in Australia and New Zealand, which are also RHD markets.