Tesla’s least-expensive model sees its fourth price increase in a year. The electric automaker raised prices $500 to $1,000 on all versions of the Model 3 late last week:
- Tesla Model 3 Standard Range Plus: now $38,490, up from $37,990
- Tesla Model 3 Long Range AWD: now $47,490, up from $46,990
- Tesla Model 3 Performance: now $56,990, up from $55,990
The price bump comes along with the smallest of interior updates. There’s now a small trim plate in the door that matches the dashboard color. Teslas charges a destination fee of $1,200. All colors other than white add cost to the vehicle, so the change means that the Model 3 is now effectively a $40,000 car in every form — unless you buy a Standard Range Plus in white.
The Model Y SUV has also seen a small price change — its Long Range AWD trim is up to $50,490 from $49,990. There is no corresponding interior update to the Y.
Tesla conducts businesses very differently than other automakers. For one thing, it doesn’t sell cars through franchised dealerships. You buy a Tesla directly from Tesla. For another, it doesn’t change its cars only at times designated by model years. Instead, Tesla improves cars on the fly in the middle of production runs.
So, while mid-year price changes would be unusual for another automaker, they’re the only method Tesla has to account for changes in manufacturing costs.
