Mid Range Goes Higher: Days After Reveal, Tesla's Cheaper Model 3 Gets a Price Bump
How quickly things change. In today’s era of standing still equates to certain death, but pricing isn’t normally the thing seeing the greatest change.
Not at Tesla. Less than a week after the automaker announced a new Mid Range Model 3 that splits the difference between the Long Range variant (now available only in dual-motor guise) and the still-unattainable $35,000 base sedan, the model’s price has undergone a refresh. Musk Math must be at work.
For rear-wheel drive, 260 miles of range, and a reduction in acceleration and top speed, Tesla customers were told last week they’d pay $45,000 before tax credits for the privilege — or way less than that after deleting the fuel and maintenance costs of a phantom vehicle they didn’t buy. (Tesla continues the bizarre and inaccurate practice of bundling anticipated savings into the MSRP. Pushback is growing.)
Sometime after dark on Tuesday night, Tesla’s Mid Range Model 3 shot up in price by a grand, coming in now at $46,000 or two grand more than the RWD Long Range model cost before its discontinuation. However, the dual-motor Long Range model saw a drop in price. That model now carries a price tag of $53,000, or $1,000 less than before.
All of this points to an attempt to maximize profit from the Model 3 line, just dAYSas last night’s announcement of a looming loss of trim configurations points to a need for greater production speed.
Later today, Tesla plans to release its third-quarter financials. It’s unusual timing, as the automaker typically waits longer to toss out numbers after the end of a fiscal quarter. Tesla CEO Elon Musk promised earlier this year that his company would end the quarter in a cash-positive position.