The 2021 holiday season is approaching in full swing and Tesla has once again surprised its potential buyers with another Model 3 and Model Y price increase. The automaker had already raised the prices of its cars twice in October. In 2021, this is probably the 7th or 8th pricing shuffle by Tesla.
When Tesla increased the prices of Model 3 and Model Y last month, the higher trims and Performance variants were unaffected by this change. But this time, Tesla has increased prices for all the variants of Model 3 & Y.
Not just prices, Tesla has made some changes to the naming conventions as well. The base variant of the Model 3 which was previously had the suffix of “Standard Range Plus” is now simply called “Model 3”. It will no longer be officially referred to as Standard Range Plus or SR+ from now on.
Let’s go through the new Model 3 and Model Y prices one by one.
New Model 3 Prices (November 2021)
Tesla has raised prices by $1,000 for each of the three Model 3 variants. At $44,990, the Standard Range Plus (now Model 3) base variant of the entry-level Tesla is the most expensive since its launch in 2017.
Tesla has also bumped the range of the base Model 3 by 5 miles. Previously, it was 262 miles, now the configurator is showing 267 miles of EPA estimated range. It is currently unclear that this range increment is due to a software update or the LFP battery implementation in the base Model 3.
The list of new Model 3 prices is as follows:
- Model 3 (previously Standard Range Plus): $44,990
- Model 3 Long Range All-Wheel Drive: $50,990
- Model 3 Performance: $58,990
Possible impact on Hertz 100k Model 3 order price
One interesting new scenario has built up here with the price hike. Just a few days back, the automaker’s CEO Elon Musk posted on Twitter that Hertz and Tesla have not yet signed a contract for the 100,000 Model 3 purchase by the car rental company.
He also noted earlier that Hertz will get no discount. If a contract was still pending before yesterday’s price increase of $1,000 to the Model 3 base variant, Hertz will most probably end up paying an additional $100M above its order amount of 4.39B.
After so much advertisement and social media impact, Hertz is certainly not going to retreat from the deal.
New Model Y Prices (November 2021)
In the absence of a Rear-Wheel Drive (RWD) base variant, Tesla Model Y starts from the All-Wheel Drive Long Range variant. Model Y has also received a $1,000 price increment for both the Long Range and Performance variants each.
New Model Y prices are as follows:
- Model Y Long Range AWD: $57,990
- Model Y Performance: $62,990
New Paint Prices
Tesla has also made changes to the paint prices for both Model 3 and Model Y. Besides the Pearl White Multicoat, the Midnight Silver Metallic (gray) color is now included in the base price of the vehicle. This gives potential buyers 2 choices of included colors now.
However, Tesla has increased the price of the Solid Black color from $1,000 to $1,500. Solid Black used to be the included color when Tesla Model 3 was launched but back in June 2019, Tesla decided to offer the White color as included in the base price of the vehicle. Pearl White Multicoat was then called Simple White.