Tesla Model 3 2021: price dips below $60k, undercuts Hyundai Kona Electric

Tesla has given the Model 3 sedan a significant price cut right across the range with an entry-level Standard Plus variant now costing buyers just $59,990 before on-road costs.

The new price undercuts rivals such as the Hyundai Kona Electric ($62,000) and Kia Niro ($62,590) small SUVs, but isn’t as cheap as some budget-friendly EVs like the Nissan Leaf hatch ($49,990). 

With the latest price decrease, the Tesla Model 3 Standard Plus is now $14,000 cheaper to buy than it was in 2020 specification before Australia started receiving models manufactured in China.

Likewise, the mid-spec Model 3 Long Range is now $73,400 (before on-roads) and the tip-trim Model 3 Performance is now just $84,900 – representing a $16,025 and $12,525 price drop over the same period.

It comes after NSW and Victoria announced plans to offer a $3,000 rebate for buyers looking to purchase an EV under the price of around $69,000.

In addition, NSW and ACT will offer residents a stamp duty exemption to further curb the upfront costs – though the NSW government has put a $78,000 ceiling on its policy and doesn’t come into effect until September 2021.

This means buyers who purchase a Model 3 Standard Plus in NSW could pay around $59,473 driveaway, when stamp duty and the $3,000 rebate are included.

All variants of the Model 3 come standard with Tesla’s huge 15-inch touchscreen sitting in the centre with heated front seats, wireless charging for two phones and a minimalist interior design among the luxury features.

Opting for the Model 3 Long Range or Performance variants adds heating for the rear seats, LED fog lamps, a 14-speaker premium audio system and interior floor mats.

The latest price cut comes as rivals such as the BMW i4 sedan prepare to enter the Australia market later this year with a range of price and performance options.

Other EVs including the Volvo XC40 Recharge Pure Electric and Mercedes-Benz EQA 350 small SUVs, along with the Hyundai Ioniq 5 midsize SUV will all arrive here later this year – just to name a few.

Tesla Model 3 2021: prices in Australia

All prices listed are before on-road costs.

• Standard Plus: $59,990
• Long Range: $73,400
• Performance: $84,900