Like the tiny negatively charged particles flowing through a battery’s electrolytic solution, Tesla’s pricing schematics are inherently unstable. Take the Tesla Model 3 Performance, for example. In 2022, the sporty sedan cost $64,440: $62,990 for the car, $1,200 for destination, and $250 for the nonrefundable order fee. At that time, there was no available tax credit for Teslas.

Given that 2024 is right around the corner, the Texas-based automaker is going all-out with its price reductions. A recent example of one is a Midnight Silver Metallic Model 3 with a $5,100 discount. This Model 3, in particular, is available at Tesla Burbank and is listed for
$47,530: $45,890 for the vehicle, plus the mandatory destination and order fees.

Factoring in the $7,500 federal tax credit, this EV can come in at $40,030. When compared to Tesla’s prices a year ago, in-inventory Model 3s are now up to $16,910 less without the tax credit, or $24,410 including destination. 

While there are some drawbacks to buying new Teslas these days, such as the lack of ultrasonic sensors found on previous cars, there is no doubt these prices are some of the most competitive in the industry. With over 450 horsepower and a zero-to-sixty time in the low 3-second range, very few cars—EV or ICE—can come close to the Model 3 Performance’s price proposition.

Moreover, all Model 3 Long Range and Performances come as standard with heated front and rear seats, a 15-speaker sound system with a subwoofer, and a snappy AMD Ryzen processor.

There are currently five new and one demo Model 3 Performances within the Los Angeles zip code listed for under $47,000. In the Miami zip code, two Model 3 Performances are priced for under $47,000, one demo and one new. It’s important to know that even demo models qualify for the full $7,500 credit, at least up until the end of the year. While these price drops don’t reflect every market, there are still notable discounts across most delivery centers.

Throughout the Model 3’s production run, prices have fallen pretty consistently. When 2023 rolled around, Tesla slashed its prices across the board, and the Performance’s price eventually dropped to $52,630: $50,990 for the car, $1,390 for destination, and $250 for the order fee. As a cherry on top, Teslas started to qualify for the federal tax credit again. Factoring in the $7,500 credit, a new Model 3 was effectively $45,130, a far cry from the prior year’s price of $64,440.

In other words, now may be a great time to get an incredibly competitive price on a very quick EV. And the Model 3 Performance should still qualify for the full tax credit next year, but if you find a good price, you might want to act now.