Tesla Cuts Prices on Select Model 3 and Model Y

The electric vehicle manufacturer has introduced significant price reductions and a new trade-in bonus across Australia.

Updated on Oct. 24, 2026 in Electric Vehicles

Tesla Cuts Prices on Select Model 3 and Model Y

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Is now a good time to buy an electric vehicle, given current manufacturer discounts?

Tesla has launched a new promotional campaign in Australia featuring price cuts of up to $4050 on specific in-stock Model 3 and Model Y vehicles. Customers can also access a trade-in bonus of up to $2000 for eligible vehicle purchases.

Why it matters

These discounts aim to increase the uptake of electric vehicles across the national market by lowering the barrier to entry for prospective buyers. The limited-time promotion encourages immediate purchasing decisions for those considering a transition to electric transport.

Reductions range from $2750 to $4050 depending on the model, with the Model 3 Performance seeing the largest discount. A trade-in bonus of up to $2000 is also available for buyers who order and take delivery before the end of 2026.

The players

Tesla

Tesla is a global leader in the design and manufacture of electric vehicles and sustainable energy storage systems.

The details

The price reductions apply to various trim levels, including the Model 3 Premium Rear-Wheel Drive and the Model Y Premium All-Wheel Drive. Notably, entry-level Model 3 Rear-Wheel Drive variants and new Model Y Performance vehicles are excluded from these specific discounts.

The new discounts appeared on the official Tesla website on 24 October 2026.
Buyers must take delivery of their eligible vehicles by 31 December 2026 to secure the pricing and bonus.

Roadmap

This move mirrors broader industry efforts to stimulate the transition to electric vehicles in competitive national markets. By adjusting pricing structures, Tesla maintains its position against emerging rivals while clearing existing stock.

Consumers in regions like New South Wales can now access specific drive-away prices starting at $57,030 for a Model 3. Buyers should review their eligibility for the trade-in bonus, which can be applied as a purchase price discount or received as post-delivery cashback.

The takeaway

Prospective buyers should verify which vehicle trim levels qualify for these specific discounts before heading to a dealership. Planning the trade-in process early ensures that deliveries can be completed before the 31 December 2026 deadline.