How Much Is A Tesla? Price Breaks Down 2024

Key Takeaways

• Price varies across different Tesla models (Model 3, Model S, and Model X and also from Model Y) based on features, performance, and range. Now,  let's find how much is a Tesla in 2024!
• The final tally on a Tesla can be very dependent on Australian government incentives, such as FBT exemptions and import duty reductions. In this article, find out why it costs what it does to purchase a Tesla in Australia!

1. Factors Affecting Tesla Prices In Australia

Before we find out how much is a Tesla, let's find out the Factors that Affect Tesla Prices in Australia.

1.1. Model Type: 

1.1.1 Model 3

How much is a Tesla? Tesla Model 3 pricing ranges from $46,04 to $65,23. This model has three trims: Long Range RWD, Long Range AWD, and  Performance.

• Model 3 Long Range RWD: 

It provides a stunning 584 km of range (EPA-rated). Five-passenger seating, 24 cubic feet of cargo space (with rear seatbacks up), 0-60 in 4.9 seconds, and a top speed of 201 Km/h.

• Model 3 Long Range AWD: 

It also gives the variant an impressive new EPA-estimated range of  584 km. In terms of practicality, that means it fits five passengers inside with 24 cubes of cargo space and will also sprint from zero to sixty miles an hour in just 4.9 seconds on its way to a top speed that the car is electronically limited to at 201 Km/h.

• Model 3 Performance: 

If you want the fastest, this is the one. It will also have a dual-motor AWD option with a range of 488 km(EPA-est). The 850-hp five-passenger sedan will sprint from zero to sixty mph in 2.9 seconds, with a top end of 262 km/h. You can have room for up to five and up to 24 cubic feet of cargo space.

1.1.2 Model Y

There are three different variants of the Model Y available from Tesla:

• Model Y Performance:

This version has a range of up to 446 Km (per the EPA on a full battery. With a passenger space of 5 seats and offering up to 76 cubic feet of cargo room. Featuring a Dual Motor All-Wheel Drive (AWD), the performance figures show a 0 - 100 km/h time of just 3.5 seconds and a top speed of 249 km/h.

• Model Y Long Range AWD:

This version has a range of up to 500 Km (per the EPA). It offers seating for as many as 7 and a class-leading max 76 cubic feet of cargo space still. Spacing here The performance-oriented Dual Motor AWD hits 0 - 100 Km/h  in just 4.8 seconds and boasts a top speed of 217 Km/h.

• Model Y Long Range RWD: 

The longest range comes from the rear-wheel-drive version with 542 Km (EPA estimated). It accommodates five and provides a max of 76 cubic feet of cargo area. The rear-wheel drive (RWD) system is the simpler of the two and offers a 0 - 100 km/h time of 6.5 seconds and a top speed of 217 Km/h.

1.2. Customisation Options 

For Tesla owners in Australia, that also means upgrading the driving experience by adding features to your personal vehicle. For an additional AUD$5.100, you can optionally add the Enhanced Autopilot pack, which consists of:

• Traffic-Aware Cruise Control.
• Autosteer.
• Auto Lane Change.
• Autopark.
• Summon.

If you're after the most advanced autonomous driving technology, you can go for the Full Self-Driving Capability package. Priced at AUD$10.100, it offers:

• Navigate on Autopilot.
• Auto Lane Change on city streets.
• Autopark, including perpendicular spaces.
• Summon, so your car can come to you from parking lots.

1.3. Import And Tax Costs

In Australia, buying a fuel-efficient vehicle can save you up to $3,246 in Luxury Car Tax (LCT).  It is very much a tax on income — setting the tax at 33 cents in the dollar above a threshold. 

An $80,567 threshold for most vehicles in the 2024-2025 financial year. But the threshold is higher, $91,387 for fuel-efficient cars like Model S, Model 3, Model X and Model Y. 

Buying a fuel-efficient Tesla in Australia can save you on Luxury Car Tax.

The Australian Government Treasury Laws Amendment (Electric Car Discount) Act 2022 also gives extra savings towards expensive luxury car tax transactions. It provides an FBT exemption for zero or low-emission vehicles that were first made available for use between 1 July 2022 and 30 June 2024 and which cost less than the luxury car tax threshold.

This tax exemption may be relevant for electric vehicles valued at $91,387 (drive away, including GST) or below during the 2024-2025 financial year. Some qualifications must be maintained, and these can change over time. Buyers are advised to verify their eligibility and obtain professional advice prior to sourcing a vehicle.

2. Price Breakdown By Model

Want to know how much does a Tesla cost? Check out the detailed price list of each Tesla model.

Model	Version	Price
Tesla Model 3	Base Rear-Wheel Drive (RWD)	$54,900
	Long Range	$64,900
	Performance	$80,900
Tesla Model Y	Base Long Range RWD	$63,900
	Long Range AWD	$72,900
	Performance	$82,900

2.1. Tesla Model 3

If you're wondering how much is a Tesla, the most affordable option is the Model 3. The base Rear-Wheel Drive (RWD) model starts at $54,900, while the Long Range version is priced at $64,900. For those seeking extra performance, the top-tier Performance model comes in at $80,900.

Tesla Model 3 is priced from $29,990 to $42,490.

However, the $7,500 federal electric vehicle tax credit—can help offset the cost of whichever one you're considering if you go for a Model 3 Long Range or Performance version. 

Nevertheless, the base standard range RWD model would be ineligible for this tax credit. Note that if the Performance model is optioned with things like a custom paint color or interior, it could cross above the threshold for a tax credit.

2.2. Tesla Model Y

Tesla's most popular car and it's not hard to understand why the Model Y would be. With up to 514 km of EPA-estimated range, it combines Model X space with the price of a Model 3.

Tesla Model Y is most popular car.

So, if you're wondering how much do Teslas cost, the exact amount depends on the model and features you choose.

• Model Y Performance: $82,900.
• Model Y Long Range AWD: $72,900.
• Model Y Long Range RWD: $63,900.

3. FAQs

3.1. Is There A Government Rebate On Tesla Cars In Australia?

Yes. You can benefit from both federal and similar (often smaller) incentives for EVs, depending on where you live. However, this policy is now being phased out by many states. Here are the main ones:

• FBT exemption: No fringe benefits tax (FBT) applies if you own a relevant low- or zero-emission vehicle first used after 1 July 2022.
• Number one: 0% import tariff. The Federal Government has slashed the existing 5 percent upfront cost of EVs through the removal of an import tariff. This is for cars under the luxury car tax amount.

3.2. How Much Is Tesla Insurance?

There are a number of factors that can determine your Tesla Insurance premium, including which Tesla model you have, where you park and drive it, the amount driven, as well as coverage options selected. Your premium will be less for guys with a better Safety Score. When you sign up, your starting Safety Score is assumed to be 90.  

It may also change during renewal due to factors like your vehicle aging or changes in the base cost of your plan. Tesla Insurance will always notify you in advance of any premium updates.