Cheapest Tesla Electric Car in 2023: EV Bargain or Letdown?
When it comes to finding the cheapest Tesla electric car in the marque’s lineup, there’s only one name you need to mention: the Model 3. The 2023 and upcoming 2024 Tesla Model 3 boasts the most affordable price in the industry-defining EV manufacturer’s offerings. So, is the baby Tesla worth its starting price point? Or is the most brawny Model Y a better bet?
How much is the cheapest Tesla car?
The 2023 Tesla Model 3 Rear-Wheel Drive starts at $28,490 after the $7,500 federal tax credit. As a result, the single-motor Model 3 is around $4,500 cheaper than the larger, higher-riding Model Y Rear-Wheel Drive.
Still, despite the Model 3’s bargain price point in the Tesla lineup, the Model Y outsold the entry-level electric car model. According to GoodCarBadCar, the Model Y is on pace for a record sales year. Specifically, Tesla sold 110,997 more Model Ys than its cheaper Model 3 this year so far.
| Model | 2023 sales YTD (units) |
| Tesla Model Y | 284,498 |
| Tesla Model 3 | 173,501 |
| Tesla Model S | 22,500 |
| Tesla Model X | 17,501 |
What are the trims of the Tesla Model 3?
The 2023 Tesla Model 3 is available in three trims: the single-motor Rear-Wheel Drive, dual-motor Long Range, and explosively quick Performance.
| Trim | Starting price (post-credit) | Single-charge range |
| Tesla Model 3 Rear-Wheel Drive | $28,490 | 272 miles |
| Tesla Model 3 Long Range | $35,490 | 333 miles |
| Tesla Model 3 Performance | $40,490 | 315 miles |
Unsurprisingly, the single-motor Rear-Wheel Drive trim is the most affordable Tesla electric car in the company’s lineup. However, even with heftier price tags, the dual-motor Long Range and Performance trims offer longer single-charge ranges, snappier acceleration, and grippy all-wheel drive (AWD). Furthermore, the Tesla Model 3 trims will carry over into 2024, albeit with a welcome refresh.
Which Tesla Model 3 is the best value?
The 2023 Tesla Model 3 Rear-Wheel Drive offers budget-friendly access to the brand’s electric cars. However, the Long Range is our pick for the best value in the trim lineup. With AWD, a 333-mile range estimate, and thrust-happy acceleration, the Long Range trim is worth the extra $7,000.
Furthermore, for those who don’t feel the need to join the masses on the SUV bandwagon, the dual-motor Model 3 Long Range is just $2,600 more than the single-motor, entry-level Model Y. Better yet, the Model 3 Long Range will cover a staggering 73 miles further per charge than the Model Y Rear-Wheel Drive.
Are Teslas getting cheaper?
Fans can expect higher prices for the upcoming 2024 Tesla Model 3 than the pre-facelift 2023 electric car model. We estimate that starting prices will increase by around $2,000 to $3,000 for the entry-level Model 3 Rear-Wheel Drive.
However, with updated styling and improvements in fit and finish, the 2024 Tesla Model 3 could be worth the higher price tag. What do you think about the Model 3? Share your thoughts and opinions in the comments below!
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