Tesla Inc has recently increased the price of its newly launched Model 3 Performance by $1000 in the U.S., setting the new price at $53,990 on the company's website. Even with the price hike, this particular model stands out as it qualifies for a $7,500 federal EV tax credit, ultimately lowering the effective price for qualifying buyers to $46,490, making it cheaper than the Long Range version of the vehicle. This Performance variant offers a range of 296 miles and a top speed of 163 mph, with customers who order now expected to receive their vehicles by June.
rear-wheel drive and long-range, while conspicuously absent was the Performance variant, but a company executive assured its imminent release. Tesla had previously reduced prices on all trim levels of the Model Y, S, and X by $2,000 earlier in the month but had not altered the pricing of the refreshed Model 3 during that time. The stock of Tesla closed down by 1.11% at $168.28 per share on Friday, with a year-to-date decline of 32.26% according to data from Benzinga Pro, indicating ongoing market fluctuations.
Tesla's move to raise the price of the new Model 3 Performance has stirred interest among potential buyers and observers alike, given both the increase in cost and the availability of a federal tax credit for this particular model. The company's strategic pricing adjustments for its different vehicle models, alongside the variations in discounting practices, reflect the evolving landscape of the electric vehicle market and the competitive dynamics shaping Tesla's market positioning.