They may be the two best-selling electric vehicles (EVs) in Australia, but the Tesla Model Y and Model 3 are nevertheless the latest EVs to receive price cuts.

    Overnight, Tesla shaved $5000 off the price of its entry-level Model Y RWD (now priced from $55,900 before on-road costs) and cut $4000 from the base Model 3 RWD (now $54,900 before on-road costs).

    This not only represents the cheapest pricing for the two EVs we’ve seen so far, but also a significant reduction across the past few months.

    The Model Y RWD’s price has fallen by $9500 since March, while the updated Model 3 has been cut by $7000 across the same period.

    The price cuts have also been applied to the mid-tier Model 3 Long Range AWD, now priced from $64,900 before on-road costs (down $3000, or $7000 since March).

    Model Y Long Range examples are unaffected by the latest price cut, remaining at $69,900 before on-road costs.

    Prices of the flagship Performance grades are also unchanged at $82,900 before on-roads for the Model Y and $80,900 before on-road costs for the Model 3.

    Tesla isn’t the only carmaker to cut the prices of its EVs in Australia.

    Within the past two months, the GWM Ora, MG 4, Polestar 2, Renault Megane E-Tech and Nissan Leaf have all received price reductions – either permanent or temporary – to try and jump-start sales or edge closer to Tesla’s sales dominance.

    Between January and April 2024, Tesla reported 8001 Model Ys and 6885 Model 3s as sold in Australia, well ahead of the BYD Atto 3 (2638 sales) and Seal (2384 sales).

    While Tesla Model Y deliveries have grown by 52 per cent compared to the year prior, Model 3 registrations dropped by 22.2 per cent, despite the arrival of the much-anticipated ‘Highland’ facelift in late 2023. 

    2024 Tesla Model Y Australian pricing

    Tesla Model Y RWD$55,900 (-$5000)
    Tesla Model Y Long Range AWD$69,900 (no change)
    Tesla Model Y Performance AWD$82,900 (no change)

    Prices exclude on-road costs.

    2024 Tesla Model 3 Australian pricing

    Tesla Model 3 RWD$54,900 (-$4000)
    Tesla Model 3 Long Range AWD$64,900 (-$3000)
    Tesla Model 3 Performance AWD$80,900 (no change)

    Prices exclude on-road costs.

    MORE: Everything Tesla Model YModel 3
    MORE: 2023 Tesla Model Y RWD review
    MORE: 2024 Tesla Model 3 RWD review

    Jordan Mulach

    Born and raised in Canberra, Jordan has worked as a full-time automotive journalist since 2021, being one of the most-published automotive news writers in Australia before joining CarExpert in 2024.

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