Tesla slashes prices in Australia for third time in two months, up to $5000 off Model Y, Model 3

The price of the most affordable Tesla Model Y is now close to $10,000 cheaper than it was two months ago, after another round of significant price cuts were introduced by the US electric-car giant in Australia.

After handing down two rounds of price cuts last month – with reductions of up to $8500 – Tesla has taken $3000 to $5000 off its most popular Model 3 and Model Y variants, effective today.
The cheapest and most popular version of the Model Y – the Rear-Wheel Drive – is now $5000 cheaper than it was yesterday, for a total price reduction of $9500 in two months.
It is $16,400 – or almost an entire Kia Picanto city hatch – cheaper than it was 18 months ago.

(2023 model shown.)

At $55,900 plus on-road costs, the base Model Y is now more affordable than a top-of-the-range Toyota RAV4 Hybrid ($58,360) – and almost $17,000 cheaper than the most affordable Kia EV6 electric SUV ($72,590).

The entry-level Tesla Model 3 Rear-Wheel Drive has had its price slashed by $4000 to $54,900 plus on-road costs – or less than $60,000 drive-away in many Australian states and territories.

It is now 'only' $3500 dearer than the most expensive Toyota Camry Hybrid ($51,417), which is likely to incur a price rise for the new model due later this year that is expected to narrow the gap further.

The Model 3 Long Range all-wheel-drive sedan has been given a price reduction of $3000, to $64,900 plus on-road costs.

Unchanged in the latest round of price cuts are the Model Y Long Range and Performance all-wheel-drive SUVs, as well as the recently-launched Model 3 Performance sedan.

The third round of reductions in two months comes as Tesla deliveries in Australia are only 5.6 per cent higher so far this year.

Sales of electric cars in Australia declined for the first time in three years last month, though the year-to-date tally is still up 32 per cent compared to the same period last year.

(2024 Tesla Model 3 price in Australia)

Model 3 Rear-Wheel Drive – $54,900 (down $4000)

Model 3 Long Range AWD – $64,900 (down $3000)

Model 3 Performance AWD – $80,900 (unchanged)

(2024 Tesla Model Y price in Australia)

Model Y Rear-Wheel Drive – $55,900 (down $5000)

Model Y Long Range AWD – $69,900 (unchanged)

Model Y Performance AWD – $82,900 (unchanged)

Note: All prices above exclude on-road costs.

Ref: Tesla slashes prices in Australia for third time in two months, up to $5000 off Model Y, Model 3 (drive)