Tesla slashes prices in Australia for second time in a month: Model 3, Model Y down
Prices of Tesla electric cars in Australia have been cut for the second time in four weeks amid slowing international demand for the company's models.
US electric-car giant Tesla has slashed prices by $3000 across most of its model range in Australia for the second time this month amid increased competition and cooling demand overseas.
After reducing prices by $1000 to $8500 on April 4, Tesla has dropped the cost of the Rear-Wheel Drive and Long Range versions of the Model 3 sedan and Model Y SUV by $3000 before on-roads.
At $58,900 plus on-road costs, the price of the cheapest Model 3 is the lowest it has been since August 2023 – before the updated model was unveiled – when the price was $57,400.
Meanwhile, the Tesla Model Y Rear-Wheel Drive – the most popular version of Australia's top-selling electric car – is at a new all-time low of $60,900 plus on-roads.
It is $8000 cheaper than it was this time 12 months ago – and $11,400 less than it was 18 months ago.
The only Tesla model variant to miss out on the $3000 cut is the Model Y Performance, which remains $82,900 plus on-road costs – after an $8500 price slash earlier this month
There are no accompanying changes to specifications, the Tesla website suggests.
Historically, the US car giant has passed on price cuts to customers waiting in the queue, whether they have just placed an order or are soon to take delivery.
The price cut in Australia follows similar reductions by Tesla in overseas markets in recent days, and precedes a presentation to the company's investors tomorrow morning (AEST), when the US car giant is expected to detail a drop in its profit margin.
At the start of the month, Tesla recorded its first year-on-year decline in quarterly global deliveries since 2020, and its largest decline since 2012, as its factories were affected by shipping delays and change-overs to new models – as well as a global slowdown in demand for new cars.
In Australia, the company continues to post sales growth – with its deliveries up 23 per cent year-on-year in the first three months of this year.
2024 Tesla Model 3 price in Australia
- Model 3 Rear-Wheel Drive – $58,900 (down $3000)
- Model 3 Long Range AWD – $67,900 (down $3000).
2024 Tesla Model Y price in Australia
- Model Y Rear-Wheel Drive – $60,900 (down $3000)
- Model Y Long Range AWD – $69,900 (down $3000)
- Model Y Performance AWD – $82,900 (unchanged).
Note: All prices above exclude on-road costs.
Tesla Model 3 price changes in Australia
Price change months (RRPs exclude on-road costs) | Tesla Model 3 RWD | Tesla Model 3 Long Range AWD | Tesla Model 3 Performance AWD |
May 2019 (orders open) | $66,000 | Not available | $88,104 |
July 2019 (launch) | $66,000 | $87,842 (incl. LCT) | $98,624 |
December 2019 | $67,900 (no change) | $89,469 (incl. LCT) | $99,869 (up 6.4 per cent) |
July 2020 | $73,900 (up 8.8 per cent) | $91,613 (up 2.4 per cent) | $102,013 (up 2.1 per cent) |
October 2020 | $66,900 (down 9.5 per cent) | $83,425 (down 8.9 per cent) | $92,425 (down 9.4 per cent) |
April 2021 | $62,900 (down 6.0 per cent) | $78,458 (down 6.0 per cent) | $94,058 (up 1.8 per cent) |
July 2021 | $59,900 (down 4.8 per cent) | $73,400 (down 6.4 per cent) | $86,472 (down 9.7 per cent) |
Early March 2022 | $60,900 (up 1.7 per cent) | $73,200 (down 0.3 per cent, December 2021) | $86,472 (unchanged) |
15 March 2022 | $63,900 (up 4.9 per cent) | $76,200 (up 4.1 per cent) | $91,672 (up 6.0 per cent) |
17 June 2022 | $65,500 (up 2.5 per cent) | $80,102 (up 5.1 per cent) | $95,276 (up 3.9 per cent) |
6 January 2023 | $63,900 (down 2.4 per cent) | $76,900 (down 4.0 per cent) | $91,395 (down 4.1 per cent) |
10 February 2023 | $64,300 (up 0.6 per cent) | $76,900 (unchanged) | $91,395 (unchanged; or $93,900 excl. LCT) |
17 February 2023 | $64,300 (unchanged) | $77,300 (up 0.5 per cent) | $91,915 (up 0.5 per cent; $94,300 excl. LCT) |
4 April 2023 | $60,900 (down 5.3 per cent) | $73,900 (down 4.4 per cent) | $88,269 (down 4 per cent including LCT) |
2 May 2023 | $61,300 (up 0.7 per cent) | $74,300 (up 0.5 per cent) | $90,355 (up 2.3 per cent including LCT; $87,300 excl. LCT) |
1 July 2023 | $57,400 | $70,400 | $83,400 (down 8.7 per cent vs June 30 price including LCT; now below LCT threshold) |
1 September 2023 | $61,900 (up 7.8 per cent) | $71,900 (up 2.1 per cent) | Not available |
4 April 2024 | $61,900 | $70,900 (down 1.4 per cent) | Not available |
23 April 2024 | $58,900 (down 4.8 per cent) | $67,900 (down 4.2 per cent) | Not available |
Tesla Model Y price changes in Australia
Price change months (RRPs exclude on-road costs) | Tesla Model Y RWD | Tesla Model Y Long Range AWD | Tesla Model Y Performance AWD |
10 June 2022 (orders open) | $68,900 | N/A | $93,900 (excl. LCT), $98,600 (incl. LCT) |
17 June 2022 (one week after launch) | $72,300 (up 4.9 per cent) | N/A | $96,700 (excl. LCT), $101,612 (incl. LCT, up 3.0 per cent) |
6 January 2023 | $68,900 (down 4.7 per cent) | N/A | $94,900 (excl. LCT), $97,895 (incl. LCT, down 3.7 per cent) |
10 February 2023 | $69,300 (up 0.6 per cent) | N/A | $94,900 (excl. LCT), $97,895 (incl. LCT, unchanged) |
17 February 2023 | $69,300 (unchanged) | N/A | $95,300 (excl. LCT), $98,415 (incl. LCT, up 0.5 per cent) |
4 April 2023 | $68,900 (down 0.6 per cent) | $81,900 (new) | $94,900 (excl. LCT), $97,895 (incl. LCT, down 0.5 per cent) |
2 May 2023 | $69,300 (up 0.6 per cent) | $82,300 (up 0.5 pr cent) | $95,300 (excl. LCT), $98,415 (incl. LCT, up 0.5 per cent) |
1 July 2023 | $65,400 (down 5.6 per cent) | $78,400 (down 4.7 per cent) | $91,400 (excl. LCT), $92,020 (incl. LCT, down 6.5 per cent due in part to LCT changes) |
4 April 2024 | $63,900 (down 2.3 per cent) | $72,900 (down 7 per cent) | $82,900 (down 9.9 per cent, no longer hit with LCT) |
23 April 2024 | $60,900 (down 4.7 per cent) | $69,900 (down 4.1 per cent) | $82,900 (unchanged) |
Prices listed above include Luxury Car Tax (where applicable) because it is industry practice to include LCT, however Tesla excludes it from its base prices. The RRPs listed above also exclude Tesla's $1375 delivery fee and $350 ordering fee ($150 prior to December 2021), and exclude on-roads costs such as stamp duty, registration, and compulsory third-party insurance. From 6 January 2023, Tesla's delivery fee increased to $1400 and the ordering fee increased to $400. Sources: RJ Pound, Redbook and Tesla. Data compiled by Drive.com.au data centre, Joshua Dowling and Alex Misoyannis.