Tesla slashes prices in Australia for second time in a month: Model 3, Model Y down

US electric-car giant Tesla has slashed prices by $3000 across most of its model range in Australia for the second time this month amid increased competition and cooling demand overseas.

After reducing prices by $1000 to $8500 on April 4, Tesla has dropped the cost of the Rear-Wheel Drive and Long Range versions of the Model 3 sedan and Model Y SUV by $3000 before on-roads.

At $58,900 plus on-road costs, the price of the cheapest Model 3 is the lowest it has been since August 2023 – before the updated model was unveiled – when the price was $57,400.

Meanwhile, the Tesla Model Y Rear-Wheel Drive – the most popular version of Australia's top-selling electric car – is at a new all-time low of $60,900 plus on-roads.

It is $8000 cheaper than it was this time 12 months ago – and $11,400 less than it was 18 months ago.

The only Tesla model variant to miss out on the $3000 cut is the Model Y Performance, which remains $82,900 plus on-road costs – after an $8500 price slash earlier this month

There are no accompanying changes to specifications, the Tesla website suggests.

Historically, the US car giant has passed on price cuts to customers waiting in the queue, whether they have just placed an order or are soon to take delivery.

The price cut in Australia follows similar reductions by Tesla in overseas markets in recent days, and precedes a presentation to the company's investors tomorrow morning (AEST), when the US car giant is expected to detail a drop in its profit margin.

At the start of the month, Tesla recorded its first year-on-year decline in quarterly global deliveries since 2020, and its largest decline since 2012, as its factories were affected by shipping delays and change-overs to new models – as well as a global slowdown in demand for new cars.

In Australia, the company continues to post sales growth – with its deliveries up 23 per cent year-on-year in the first three months of this year.

Note: All prices above exclude on-road costs.

Prices listed above include Luxury Car Tax (where applicable) because it is industry practice to include LCT, however Tesla excludes it from its base prices. The RRPs listed above also exclude Tesla's $1375 delivery fee and $350 ordering fee ($150 prior to December 2021), and exclude on-roads costs such as stamp duty, registration, and compulsory third-party insurance. From 6 January 2023, Tesla's delivery fee increased to $1400 and the ordering fee increased to $400. Sources: RJ Pound, Redbook and Tesla. Data compiled by Drive.com.au data centre, Joshua Dowling and Alex Misoyannis.