Tesla has increased the price of the Model 3 Performance shortly after its launch, making the basic options more affordable compared to the Long Range configuration with the federal tax credit. In Canada, the Model 3 Performance price remains at the launch price of CAD $69,990. It’s important to note that certain package options may push the Model 3 Performance’s price above the $55,000 limit on the IRA tax credit, making it ineligible for $7,500 off. For example, adding the $2,000 Ultra Red paint upgrade will increase the price to $55,990, rendering the vehicle ineligible for the credit.
Some states offer additional electric vehicle (EV) credits, such as California and Colorado providing new EV buyers with $7,500 and $5,000, respectively. These local rebates can often be stacked with the federal incentive to further reduce the sticker price of certain EVs. Overall, Tesla’s pricing strategy following cuts has drawn attention and various perspectives.