Tesla Model 3 Performance is 3 days old and already got a $1k price hike

Tesla just released the Model 3 Performance on Tuesday, and already Tesla has hiked the price by $1,000.

The Model 3 Performance came out the morning of Tesla’s quarterly earnings report earlier this week, with lots of updates.

Tesla updated the car’s bodywork, seats, steering, brakes, damping, track mode software, and of course the rear drive unit, giving the car 510hp and a 0-60 time of 2.9 seconds.

And, given the fact that it qualifies for the US Federal EV Tax credit, it’s actually cheaper than the lower-spec Long Range Model 3 (which starts at $47,740) after taking the credit into account.

The Model 3 Performance has also garnered rave reviews both from online observers who note its impressive specs and value proposition compared to competing vehicles, and from the few car reviewers who Tesla deigned to allow to review the vehicle ahead of its release.

Perhaps due to the confluence of these factors, Tesla has now decided that its raved-about vehicle might be worth more than it originally decided to sell it for, and has thus raised the price by $1,000.

Now, the Model 3 Performance starts at $53,990, rather than $52,990.

This still makes the performance model ~$1k cheaper to purchase than the Long Range version, assuming you qualify for the tax credit. However, since the tax credit is attainable even on non-qualifying cars via a lease, the lease rates for the RWD ($299/mo) and Long Range AWD ($439/mo) are still significantly cheaper than the Performance AWD model ($566/mo).

Perhaps to balance this price increase, Tesla also reduced the price of some paint and interior options. Now, the solid black exterior paint color is $1,000, down from $1,500, and the black and white interior now costs $1k, rather than $1,500. Other paint options remain the same price as before.