After being suspended for more than 8 months, Tesla has brought back the Model 3 Long Range AWD with a new price tag and reduced range compared to the previous year.
Tesla has also increased the prices of all the variants of Model 3 and Model Y by $250 (see the complete lists below).
Tesla abruptly stopped taking orders for the Model 3 Long Range variant last year when it was priced at $57,990. Now with all the price reductions since Q1 of this year, Tesla has also reduced the price of the relaunched Model 3 Long Range AWD to $47,240.
Another difference is the EPA estimated range of the Model 3 Long Range, instead of the old 334 miles, Tesla now lists its range as 325 miles.
Some among the Tesla community guessing that the new Long Range Model 3 has an LFP (Lithium-iron-phosphate /LiFePO4) battery just like the base Model 3 variant. This is based on the wrong range calculation, the range has not dropped from 558 miles to 525 miles, it has dropped only 9 miles (from 334 to 325).
The idea of this small range reduction in Model 3 Long Range is due to the LFP battery is too far-fetched, IMO.
Another reason that seems a bit concrete is the lower federal tax credit offered on Model 3 Long Range AWD. Instead of $7,500, it is only entitled to a $3,750 tax credit for eligible customers. This may be due to the fact that Tesla is using an LFP battery imported from the Chinese provider CATL which lowers the tax credit slab of this variant.
To be eligible for the full tax credit, an electric vehicle should be assembled in the United States plus 40% of its minerals and 50% of its battery components should also be sourced from North America.
Let’s go through the list of new Model Y/3 prices after the $250 increase.
Tesla Model 3 New Prices
Tesla estimates to deliver the new Model 3 Long Range vehicles as early as June (next month). This could be a good chance to get the deal.
However, some Tesla enthusiasts think that it’s better to get a Tesla Model 3 Performance for a full $7,500 tax credit instead of getting the Long Range AWD for a $3,750 tax rebate.
Here are the new prices of the Tesla Model 3 as of 3rd May 2023:
- Tesla Model 3 RWD = $40,240 (previous: $39,990)
- Tesla Model 3 Long Range AWD = 47,240 (previous: $57,990 before suspension last year)
- Tesla Model 3 Performance = $53,240 (previous: $52,990)
Tesla Model Y New Prices
Tesla Model Y also received a small price increase of $250 for each variant. Here’s the list of new prices as of 3rd May 2023:
- Tesla Model Y = $47,240 (previous: $46,990)
- Tesla Model Y Long Range AWD = $50,240 (previous: $49,990)
- Tesla Model Y Performance = $54,240 (previous: $53,990)
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