Tesla slashes prices of best selling Model Y and Model 3 to lowest ever level

Tesla has started the third quarter of 2023 in Australia with another huge price drop, making both the top selling Model 3 and the Model Y electric vehicles the cheapest they have ever been.

The prices of Australia’s best-selling EV, the Tesla Model 3, and the Model Y, have been reduced by $3,500 on all of the different variants.

First with the Model 3:

• Tesla Model 3 RWD – $57,400 (down from $60,900)
• Tesla Model 3 Long Range AWD – $70,400 (down from $73,900)
• Tesla Model 3 Performance AWD – $83,400 (down from $86,900)

This is the lowest it’s been since the first local deliveries of the Tesla Model 3 back in 2019, making it more accessible than  ever before.

It is the latest in a string of price reductions for the Tesla Model 3, which started in the first quarter, with another in the second quarter, and again in April when prices were cut by $3,000.

The Model Y electric SUV has also seen a drop in price of $3,500.

Now the pricing of the three variants are:

• Tesla Model Y RWD – $65,400 (down from $68,900)
• Tesla Model Y Long Range AWD – $78,400 (down from $81,900)
• Tesla Model Y Performance AWD – $91,400 (down from $94,900)

This means that, the first time, the Model Y RWD is eligible for subsidies in various states and territories. It of course excludes Victoria where buyers of the Model 3 and Model Y have missed out on taking advantage of the latest price cuts and the state subsidy by a day.

The price cuts across Tesla’s range are welcomed by many order holders including, Carl, one of The Driven’s readers from Victoria.

“On the day after the Victorian #ZEVsubsidy discontinuation, I was very pleased and surprised to get this update from Tesla on my Model Y order!” he said on social media.

“Well done to #Tesla for continuing to support the transition to EVs and make them more affordable in Australia …which, unfortunately, is more than I can say for the Victorian Government right now!”

With 2023 already the best year for EV sales to date, this news of large price cuts will just supercharge growth, bringing tens of thousands of new EVs onto our roads in the coming months.