Price evolution of a Tesla model 3 in the United States

1. Relevance of the price of a Tesla model 3
2. Price evolution of a Tesla model 3
   1. Absolute price of a Tesla model 3 per year
   2. Inflation adjusted price of a Tesla model 3 per year
3. Conclusion
4. FAQs about a Tesla model 3's price in the the United States
5. Price evolution table and full chart

Price evolution of a Tesla model 3

The average price of a Tesla model 3 between 2017 and 2023 was $38,457, with the lowest price being $31,018 in 2017 and the highest $45,858 in 2023 (at least within the timeframe we have data for).

Yes, I'm sorry to say, but a Tesla model 3 in the United States has never been as expensive as it is today. However, if you look at the inflation adjusted price, a Tesla model 3 actually peaked in 2022 at $52,094 (in today's money).

Let's take a closer look at the data in the tables below:

Absolute price of a Tesla model 3 per year

Our data source for this article was: cargurus .

The absolute price of a Tesla model 3 in the the United States has gone from $31,018 in 2017 to $45,858 in 2023. That's an absolute increase of $14,840, or 47.84% in a period of 6 years. (go to the next section for inflation-adjusted values).

Now, if you are hoping for a decrease in the price of a Tesla model 3 in the future, don't hold your breath. Considering that the price has only increased during a period of 6 years (like literally every year), there's no reason to believe that trend will change any time soon.

The biggest price increase was $5,325, or 13.15% in 2022.

Inflation-adjusted price of a Tesla model 3 per year

As accurate as the information above might be, it can also be somehow deceiving. This is because the value of money changes over time, usually decreasing. That means that $1 of today's money cannot buy as much as $1 in the past. This phenomenon is called inflation, and can make it complicated to compare historical pricing data. Luckily, we can adjust for it and calculate what a dollar value of the past would be equal to in today's money.

So let's not take a look at the evolution of the price of a Tesla model 3 in the the United States, in that same 6 years period between 2017 and 2023, but adjusting prices to inflation (aka. in today's money).

When we adjust for inflation, we see that the price of a Tesla model 3 actually peaked in 2022, when it cost $52,094 (in today's money), and was at its lowest in 2017 when it sold for $39,808.

Even when adjusting for inflation, the biggest price increase of a Tesla model 3 was still in 2022. However, the $5,325 jump actually felt like $3,890 to the consumer due, to the effect of inflation.

The average price of a Tesla model 3 during this period of time, adjusting for inflation, has been $45,518, and the most current price of $45,858 is 0.75% above that average.

Conclusion

The absolute price of a Tesla model 3 has increased by $14,840 ($47.84%) since 2017. But that comes as no surprise, as prices always tend to increase over time due to inflation.

Now, as we've explained earlier, the absolute price of a product does not necessarily represent its affordability fairly. For that we have to look at its inflation adjusted price, or in other words, the price evolution in today's money.

When we look at the inflation-adjusted price of a Tesla model 3, we see that it has varied ± 13.5% over this period of time, and is currently 0.75% more expensive than the average over these years .

Even when adjusting prices for inflation, a Tesla model 3 prices are still higher in 2023 than they were in 2017. But hey, it's only 0.75%, that's really not that much!

Percentage wise the price of a Tesla model 3 has not seen very drastic changes from one year to another. Instead it suffers a moderate, but almost guaranteed price increasses every year.

FAQs about the price of a Tesla model 3 in the the United States