Just days following its debut, Tesla has raised the price of the Model 3 Performance, albeit the base options still maintain affordability compared to the Long Range variant with the federal tax credit.
Following the official launch of the highly anticipated Model 3 Performance on Tuesday, Tesla has boosted the configuration's price by $1,000, as indicated on its order configurator. Despite debuting at $52,990, the Model 3 Performance now stands at $53,990 in the U.S., yet remains the sole configuration of the sedan eligible for the $7,500 tax credit.
The Model 3 Performance price remains unchanged in Canada, holding steady at the launch price of CAD $69,990.
With the tax credit factored in, the base-level Model 3 Performance is priced at $46,490, making it more affordable than the Long Range configuration, which is not eligible for the credit and priced at $47,740.
However, it's important to note that certain package options can push the Model 3 Performance's price above the $55,000 limit for the IRA tax credit, rendering it ineligible for the $7,500 deduction. For instance, adding the $2,000 Ultra Red paint upgrade increases the Model 3's price to $55,990, exceeding the eligibility threshold for the credit.
Some states offer additional electric vehicle (EV) credits, allowing for further savings. California and Colorado, for example, provide new EV buyers with $7,500 and $5,000 credits, respectively. These local rebates can often be combined with the federal incentive to reduce the sticker price of certain EVs even further.
In addition to its launch in the U.S. and Canada, Tesla introduced the new Model 3 Performance in several international markets, including various European countries, China, Australia, New Zealand, and Southeast Asia. This configuration has been eagerly anticipated since the release of the first two variants of the upgraded Model 3 in Europe and Asia last year, followed by its U.S. debut earlier this year.
The Model 3 Performance has been observed undergoing testing on public roads and was showcased at an event in California earlier this month. Chief Designer Franz von Holzhausen confirmed the variant's impending release in a statement in January, although Tesla did not officially announce the trim option until its launch earlier this week.