Upgraded Tesla Model 3 Long Range Dual Motor AWD gets minor price increase

Credit: @dsdavies1/X

Just weeks after its initial release in North America, the upgraded Tesla Model 3 Long Range Dual Motor All wheel Drive (AWD) has seen a minor price increase. With the price increase in place, the Model 3 LR now starts at a price of $46,990. Previously, the vehicle was priced at $45,990 before options. 

The upgraded Tesla Model 3 is currently available in two variants. Apart from the Model 3 Long Range Dual Motor AWD, the vehicle is also available in Rear Wheel Drive (RWD) trim. The Model 3 RWD is currently priced at $38,990 before options. 

While Tesla has not announced a specific reason behind the Model 3 Long Range Dual Motor AWD’s price increase, the vehicle’s estimated delivery date was pushed back to March-April 2024 in late January. In comparison, the expected delivery date of the Model 3 Rear Wheel Drive is currently listed for February-March 2024. 

Considering the Tesla Model 3 Long Range Dual Motor AWD’s estimated delivery date and the fact that the vehicle was only launched in North America last month, the minor price increase may have been implemented as a response to strong demand for the all-electric sedan. The mid-tier Model 3, after all, is a bang-for-the-buck vehicle, offering quite a lot of features, performance, and safety for its price.

The Model 3 sedan and Model Y crossover comprise the lion’s share of Tesla’s global sales. And while the Model Y has overtaken the Model 3 in raw sales over the years, the all-electric sedan is still a notable presence in the market. This may be because the Model 3 is a great starter Tesla, and it also tends to be the lowest-priced vehicle in the company’s lineup. 

That is, at least, unless one takes into account federal tax credits in the United States. The Model Y is still eligible for the Inflation Reduction Act’s (IRA) $7,500 federal tax credit, which means that the Model Y Rear Wheel Drive, which starts at $43,990 before options, and the Model Y Long Range Dual Motor All Wheel Drive, which starts at $48,990, can be acquired for $36,490 and $41,490, respectively. With the IRA’s federal tax credit in place, the Model Y could effectively be more affordable than the Model 3 in the United States. 

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Simon Alvarez: Simon is a reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday.
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