The Tesla Model 3 Long Range All-Wheel Drive (AWD) variant has experienced its third price hike this month, with the latest increase totaling $250. This latest adjustment brings the total price increase for this model to $1,750, marking a 3.8% rise.
The initial $1,000 increase occurred shortly after the introduction of the refreshed “Highland” model, followed by a $500 raise just a week ago. Meanwhile, the price of the entry-level Tesla Model 3 Rear-Wheel Drive (RWD) remains unchanged at $38,990. Notably, the RWD version currently boasts an estimated delivery time of February-March for new orders, while customers looking for the Long Range AWD variant will need to wait until April-May.
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The updated prices for the Tesla Model 3 are as follows:
- RWD: $38,990 (unchanged)
- Long Range AWD: $47,740 (up $250 or 0.5% from $47,490)
This series of price adjustments suggests that the supply of new cars may not be meeting the demand for the Long Range AWD version.
Analyst Troy Teslike (@TroyTeslike / X) speculates that these incremental price increases could be a strategy to manage demand for the Model 3, potentially due to production constraints. Additionally, the optional white interior for the Model 3 has been delayed, with its price also increasing to $1,500.
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These micro price adjustments are related to Tesla trying to discourage people from ordering a Model 3 version they can't produce while there is plenty of Model Y inventory waiting for buyers.
The white interior version of Model 3 is delayed. Deliveries have not started yet. https://t.co/ieAo2hqLW1
— Troy Teslike (@TroyTeslike) February 23, 2024
On the other hand, Tesla Model Y production appears to be in full swing, as the company’s website now features “Shop Available” Model Y vehicles (previously produced cars), while the “Order Now” button for custom orders is located at the bottom of the page.
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The Model Y recently received a $1,000 price reduction, and its estimated delivery time for new orders is February-March, indicating that supply currently exceeds demand.
As the situation continues to evolve, particularly in the challenging landscape of early 2024, it will be intriguing to observe how Tesla navigates these pricing and production dynamics.
