Tesla’s Model 3 Just Became Cheaper

June 27, 2018, 4:33 PM UTC

Tesla has made its Model 3 a bit easier to afford.

The electric car maker this week quietly reduced the price on its dual-motor option from $5,000 to $4,000, bringing its starting price down to $53,000. Tesla also changed how it’s pricing the Performance version of the Model 3, which boosts speeds, has better wheels, and other upgrades. Instead of a starting price of $78,000 on that version, you can pay $64,000. In order to bring the price down, many of the features that were standard in the earlier Performance version are now optional. Electrek earlier reported on the discounts.

Tesla’s Model 3 has been pitched as a more mainstream vehicle that can attract consumers who aren’t so keen on spending much more for the company’s Model S and Model X cars. The Model 3 has also been the subject of debate among Tesla and shareholders as production has been slow to hit milestones.

Tesla has said that its efforts to speed production are working and the company’s decision to drop the price on the dual motor and Performance versions suggests the company is ready to attract even more buyers who see the latest moves as a deal.

But to ensure those who already purchased a Model 3 aren’t left out, Tesla said that the price reductions will be applied retroactively. So if you already ordered a dual-motor version or the Performance version, you should be able to take advantage of the savings.