Tesla Cuts Model 3 Prices in Norway, Australia and New Zealand

Tesla has trimmed Model 3 pricing across three markets — Norway, Australia and New Zealand — following a wider lineup update that brought more range and new equipment to the sedan. The changes do not appear to be driven by currency swings, since both the Australian and New Zealand dollars have moved little against the US dollar in recent months.

In Australia, the Standard Range Model 3 fell 9% to $66,900, the Long Range AWD dropped 7$81,900, and the Performance version slid 5% to $90,900. New Zealand saw similar reductions: the Standard Range landed at$74,900, the Long Range AWD at $92,900 and the Performance at$101,900.

Norway, which offers among the world’s most generous EV incentives, received its own round of cuts. The Standard Range Model 3 dropped 7% to 420,900 kroner, the Long Range AWD to 449,900 kroner and the Performance to 499,900 kroner. Tesla has long been a top seller there, though it now faces stiff competition from the Audi e-tron, Volkswagen e-Golf, Hyundai Kona EV, Nissan Leaf and the VW ID.3.

The refreshed Model 3 gained a heat pump along with exterior and interior upgrades, features many buyers would value at roughly $5,000. With the Model Y expected from Berlin in 2021, Tesla appears willing to sacrifice some margin now to strengthen its position in these markets ahead of that launch.