Tesla Model 3 Performance's $1,000 Price Jump Suggests Strong Demand

The first examples of the 510 horsepower electric sport sedan are expected to arrive this June.

Tesla Model 3 Performance 2024

Mark Kane

By: Mark Kane

Apr 29, 2024 at 8:35am ET

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A few days after introducing the new range-topping 510 horsepower Tesla Model 3 Performance, Tesla has already increased its price by $1,000.

The model initially debuted with an MSRP of $52,990, but now, the new price is $53,990—plus $1,640 in obligatory fees.

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The Tesla Model 3 lineup is now fully refreshed

With the market launch of the Performance version, the entire Tesla Model 3 lineup has been refreshed to the latest design (aka "Highland"). The next step in a year or two might be a similar update to the Model Y.

Let's note that a quick pricing adjustment is not a first for Tesla. We can't be 100% certain, but an increase suggests a positive demand response compared to what the company initially expected. Some observers on social media have noted that Tesla simultaneously lowered the price of some options, like the white interior and the black paint, which are down $500.

The estimated delivery time for new orders of the Performance version is June 2024, so there will be 1-2 months of waiting. The time is shorter for other Model 3 versions —April–May for the RWD version and May–June for Long Range AWD. All Tesla Model Y versions have the same April-May estimated delivery window.

Below, we have listed all Tesla Model 3 and Model Y prices so that the two can be compared.

Prices

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 $47,740 +$1,640 N/A $49,380 2024 Tesla Model 3 Long Range AWD 19-in $49,240 +$1,640 N/A $50,880 2024 Tesla Model 3 Performance LR AWD 20-in $53,990 +$1,640 $7,500 $48,130 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 $51,490 +$1,640 $7,500 $45,630

** Tesla adds a Destination fee (DST) of $1,390 and an Order Fee of $250 to all its models ($1,640 total).*

* The $7,500 federal tax credit might be available through leasing to all models and versions.*

An important thing to note is that only the Performance version of the Model 3 qualifies for the $7,500 federal tax credit. The RWD and LR AWD versions do not qualify because their imported batteries do not meet IRA's battery requirements—at least as far as we know.

This factor creates an anomaly in effective pricing when purchasing because the Performance version is less expensive than the Long Range AWD version.

Tesla Model 3 Performance 2024

However, all potential customers should be aware that the $7,500 incentive might be included in leasing, which does not include strict battery content requirements. This is probably why the Tesla Model 3 custom order website by default starts with leasing, showing a real cost difference between the three versions.

Now, leasing a Tesla Model 3 with $2,999 down for 36 months and 10,000 miles a year will run you:

RWD: $299/mo
Long Range AWD: $439/mo
Performance LR AWD: $566/mo

It seems a better approach to lease the RWD and Long Range AWD rather than purchase them due to the incentive specific.

What do you think?

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If you wonder how the various Model 3 and Model Y versions compare in terms of range and acceleration, below we added a table:

Basic specs

Model Drive EPA
Range 0-60
mph
(sec) Top
Speed
(mph) 2024 Tesla Model 3 RWD 18-in RWD 272 mi* 5.8 125 2024 Tesla Model 3 RWD 19-in RWD 248 mi* 5.8 125 2024 Tesla Model 3 Long Range AWD 18-in AWD 341 mi* 4.2 125 2024 Tesla Model 3 Long Range AWD 19-in AWD 305 mi* 4.2 125 2024 Tesla Model 3 Performance LR AWD 20-in AWD 296 mi* 2.9 163 2024 Tesla Model Y RWD 19-in RWD 260 mi* 6.6 135 2024 Tesla Model Y RWD 20-in RWD 242 mi* 6.6 135 2024 Tesla Model Y Long Range AWD 19-in AWD 310 mi* 4.8 135 2024 Tesla Model Y Long Range AWD 20-in AWD 292 mi* 4.8 135 2024 Tesla Model Y Perf. LR AWD 21-in AWD 279 mi* 3.5* 155

** EPA Combined range according to Tesla*

Gallery: Tesla Model 3 Performance 2024

Tesla Model 3 Performance 2024

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