Tesla's Model 3 Long Range Got a Price Hike

Chris Teague
by Chris Teague

Tesla made news on several occasions last year for cutting prices on the Model 3 sedan, but the automaker appears to have reversed course with the introduction of the car’s 2024 refresh. The Model 3 is now the same cost as the Model Y, moving it away from the impressive price point it had for much of last year.


The Model 3 Rear-Wheel Drive’s price remained flat at $38,990, but the Long Range climbed to $47,490, up $1,500 from its launch price and just a few hundred bucks behind the Model Y’s $47,990 starting price. Tesla has not yet introduced a Model 3 Performance with the updated design.


Tesla often offers discounts on vehicles in its existing inventory, and some Model Y Long Range variants are selling at up to $5,000 less than a new Model 3. At the same time, the updated Model 3 is ineligible for federal tax credits, though that could change as Tesla gets its arms around the production of the new car.


This is a surprising move, and the EV market does not need more price increases. There are very few electric models anyone could consider affordable, and some are remarkably more expensive than comparable gas models. Tesla still sells more EVs than any other American company, though, so it will be interesting to see where Model 3 pricing heads from here.


[Image: Tesla]


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Chris Teague
Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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8 of 17 comments
  • ToolGuy ToolGuy on Feb 14, 2024

    A car company that raises prices *and* lowers prices. Nice to see. 😉

    Adjusting the price makes a lot more sense than farting around with overly complex incentives. This is my current thinking; subject to change.

  • Tassos Tassos on Feb 14, 2024

    I don;t know who is doing this continuous price changes, up AND down, at Tesla, but I am sure whoever it is needs to drink less coffee. He or she is NOT doing the company ANY FAVORS.


    Thus spake the REAL Tassos. As for the fake one, you can go EFF YOURSELF AGAIN, LOSER.

    • See 2 previous
    • Tassos Tassos on Feb 14, 2024

      PHONEY TASSOS identifies as "they". I, the REAL TASSOS, identifies as "zhe/zhou".


  • The Oracle The Oracle on Feb 14, 2024

    Two words: Dynamic Pricing

  • Cprescott Cprescott on Feb 15, 2024

    Those Y's look like 3's that died and were found on the road 2 days later in 90 degree heat.

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