Aussie Tesla Model 3 and Model Y Prices Slashed for the Third Time in 2024

Aussie Tesla Model 3 and Model Y Prices Slashed for the Third Time in 2024

The Tesla Model 3 sedan and the Model Y SUV have received huge price cuts in Australia, their third such cut since April this year.

The latest price drop, which drops the entry price of a Tesla Model 3 to RRP $54,900 (before on-road costs), is connected to three significant data points. The first was Tesla’s Q1 2024 earnings call, which didn’t go particularly well. The second was the reveal of the Tesla Model 3 Performance, the high-end variant of the Model 3 which had been missing from the line-up since the refresh late last year. Then, there’s also crashing EV prices, including discounts for many Tesla competitors.

The original price drop in early April, as an earlier version of this article reported, came just as the Model Y’s mid-life upgrade was announced for Australia, and about four months after the upgraded Tesla Model 3 began shipping in Australia.

While the Tesla Model Y ‘Juniper‘ facelift may be some time away, you can still get two of the four main Tesla vehicles in Australia – it’s less S3XY and more 3Y these days after the S and the X were discontinued down under.

Nevertheless, on the price-to-performance front, Tesla is still a frontrunner for EVs, despite increased competition in recent years. Now, for the third time this year, both cars are a bit cheaper.

Tesla prices drop again in 2024

In early April, price cuts were mostly for the Model Y range, but the late April price cuts came for almost the entire Australian range. Then, in May, prices were dropped again for the Model Y and 3.

The entry-level Model Y now costs $55,900 – down from $60,900 in late April, and down from $63,900 in early April for the RWD variant (was $65,400 before then). The AWD Long Range variant wasn’t affected by the May price cut, and costs $69,900 (was $72,900 in early April, and $78,400 prior), and the Performance variant didn’t get a May price drop either, costing $82,900 (was $91,400 before April).

The Tesla Model 3, the revised entry-level version of which we reviewed last year, also received price cut to its Long Range variant in early April 2024, and a more systemic price cut in late April, followed by an entry-level price drop in May.

The entry-level Model 3 now costs $54,900. The price wasn’t changed in early April, though it was changed to $58,900 in late April.

Meanwhile, the Long Range model now costs $64,900, after coming down to $67,900 in late April (it was $70,900 in early April, and $71,900 prior).

Tesla is adding another Model 3 to the line-up in Australia, however – the Model 3 Performance, the high-end trim of the car, which starts at $80,900. This car comes with a 0-100km/h speed of 3.1 seconds, a WLTP range of 528km, 20-inch wheels, sports seats, high-end brakes and suspension, and a sportier front end.

As pointed out by Drive in early April, the Model Y will also be receiving a slight update from June, including new wheels and three new colours: stealth grey, quicksilver, and ultra red. However, the changes aren’t in line with other updates in other regions – such as quicker acceleration on the RWD model, better range, and an updated interior.

With different trims of each car available, you might have questions about every Tesla available in Australia, as it’s not entirely the same as in other regions.

Let’s get stuck into it. With a new Model 3 out (and a performance trim set to arrive sometime soon), let’s dive into Australia’s most popular electric car maker.

Every Tesla available in Australia

By far the most successful electric car company is Tesla. Led by ‘Technoking’ (yes, that’s what Tesla calls its CEO) Elon Musk, we’re likely to see the Tesla name for years to come – especially if the mythical ‘Model 2’ ever gets made.

Tesla currently offers two vehicles in Australia with three variants each – the Model 3 and the Model Y. The Model S and X were available in Australia, but this is no longer the case. Fun fact: these cars spell out S3XY (this blew my mind when I first realised it). Let’s go through them.

The Tesla Model 3

The Tesla Model 3 is the cheapest Tesla available in Australia at the moment. Starting at $54,900 for the RWD (before additional costs), the Tesla Model 3 is capable of reaching 100 km/h in 6.1 seconds, with a maximum range of 513 kilometres. The Dual-Motor Long Range model is capable of zero to 100 km/h in 4.4 seconds with a maximum range of 629 kilometres.

The Tesla Model 3 starts at $54,900, whereas the Tesla Model 3 Dual-Motor Long Range costs $64,900. The high-end Model 3 Performance variant, which is AWD, is capable of a 0-100km/h speed of 3.1 seconds, and has a WLTP range of 528km, starts at $80,900 in Australia, with deliveries to begin between July and September 2024.

In our review of the base model, we weren’t too thrilled with the new indicator buttons and the on-screen gear shifter, nor were we thrilled about not having a birds-eye view in a car past $60,000, but it’s a pleasure to drive, and it is absolutely one of the best-looking EVs in the country.

The Tesla Model 3. Image: Tesla

The Tesla Model Y

The Tesla Model Y is built on the same platform as the Model 3, and uses many of the same parts as the original vehicle, but is an SUV. It starts at $55,900 for the RWD model, $69,900 for the long-range, dual-motor model, and $82,900 for the performance AWD model.

The RWD model is capable of about 455km range and zero to 100km/h in 6.9 seconds, whereas the long-range model is capable of a 533 km range and zero to 100km/h in 5 seconds. The performance model is capable of about 514km range and zero to 100km/h in 3.7 seconds.

In our initial review of the Model Y, we loved it, though we were caught a little off-guard by the lack of information behind the steering wheel and by just how much of the car operates through the centre touch screen. Regardless, it was a pleasure to drive and sit in, and it remains the best backseat we’ve ever sat in for a car review.

The Performance variant, on the other hand, totally took us to Musk land, it’s a rocket of a car and it was exciting to see Tesla at its best.

every tesla australia
The Tesla Model Y. Image: Tesla

Should I buy a new Tesla in Australia?

If you want the feeling of a new car, don’t let anything stop you from purchasing a new Tesla – although, like with any purchase, I would highly recommend comparing around to see what else is on offer. It’s worth considering alternatives to the Tesla range. Newcomers BYD, Cupra, and Polestar each offer interesting alternatives to the range, but you might end up loving an EV from Ford, Hyundai, or Kia. In terms of cost-to-performance and value, it’s difficult for many automakers to beat Tesla when it comes to EVs.

What incentives are available to me if I want to buy a Tesla?

Good question! Some Australian states and territories (in particular Queensland, Western Australia, and the ACT) offer incentive programs if you want to buy a new electric vehicle. Incentives and programs vary from state to state, so it’s best to read up on what is available to you before making a purchase. Victoria, South Australia, and New South Wales have all axed their EV rebate incentives.

What are some Tesla Model 3 alternatives?

Although the Tesla Model 3 offers one of the best cost-to-range electric vehicles in Australia, there are other options. The Polestar 2, which we reviewed, is worth considering, as it’s probably the closest thing you’ll get to a Tesla without the Musk name, and the MG4 is worth considering if you’re after a more affordable electric car.

What other Tesla cars are coming to Australia?

The only upcoming Tesla currently planned for Australia is the Tesla Model 3 Performance, which is expected to arrive between July and September 2024.

The new Tesla Roadster is also planned for Australia (or you can pick up a second-hand original model), but we’ll wait for more solid news on that, considering it isn’t available anywhere in the world just yet. The Cybertruck isn’t planned for Australia at the moment, and as previously written, the Model S and X are no longer available down under.

This article has been updated since it was first published.

Image: Tesla

Want more Aussie car news? Here’s every EV we’ve reviewed in the last two years, all the EVs we can expect down under soon, and our guide to finding EV chargers across the country. Check out our dedicated Cars tab for more.

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