New Tesla Model 3 Performance with federal tax credit is more affordable than Long Range AWD

With a starting price of $52,990, the reengineered Tesla Model 3 Performance is already a bang-for-the-buck vehicle. But while the new Model 3 Performance stands out from the upgraded Model 3 Rear Wheel Drive (RWD) and the upgraded Model 3 Long Range Dual Motor All Wheel Drive (AWD) in terms of design, the vehicle also stands out in terms of price. 

This is because among Tesla’s current Model 3 lineup, only the new Model 3 Performance qualifies for the $7,500 federal tax credit. With the federal tax credit and estimated gas savings in place, the upgraded Model 3 Performance becomes more affordable than the mid-tier Model 3 Long Range Dual Motor AWD variant.

This is quite evident in the reengineered Model 3 sedan’s order page. If one were to click on the all-electric sedan’s prices including incentives and estimated gas savings, one would see that the Model 3 Performance’s price is lower than the mid-tier Model 3 Long Range Dual Motor AWD. 

Tesla’s order page for the new Model 3 indicates that the base RWD’s adjusted price with gas savings is $33,990 and the Long Range Dual Motor AWD’s adjusted price with gas savings is $42,740. With the federal tax credit and estimated gas savings, the new Model 3 Performance is listed with a price of $40,490. 

Including the $7,500 Federal EV tax credit, the new Tesla Model 3 Performance is $2,250 less expensive than the Model 3 Long Range (LR doesn’t qualify).

• Model 3 Long Range: $47,740
• Model 3 Performance: $45,490 (including EV credit) pic.twitter.com/gjZa99VQka

— Sawyer Merritt (@SawyerMerritt) April 23, 2024

For context, the Model 3 RWD is priced at $38,990 before options without incentives and the Model 3 Long Range Dual Motor AWD is priced at before options without incentives. Without incentives and options, the reengineered Model 3 Performance starts at $52,990. It should be noted that even at this price, one could argue that the vehicle offers excellent value. 

There are few performance cars that can accelerate from 0-60 mph in 2.9 seconds that cost $53,000, after all. A look at the new Model 3 Performance’s rivals would show this, as the 2024 BMW M3 starts at $76,995 before options and the 2024 Mercedes-AMG C63 starts at $80,050 before options. With its adjusted price of $45,490 with the federal tax credit, the new Model 3 Performance becomes closer in price to the 2024 Honda Civic Type R, which starts at $45,890 before options, and the Toyota GR Corolla Circuit Edition, which is priced at $46,235. 

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