The new Tesla Model 3 Performance is almost here: But when will the EV be the dominant Aussie car?

The 2024 version of the Tesla Model 3 Performance is expected to hit Aussie showrooms soon, with a lot of buzz already circulating on car sites and among auto reviewers.

For those new to the Tesla scene, the earlier Tesla Model 3 is a battery electric mid-size sedan with a 'fastback' body style built by Tesla. But it’s apparently due for an update, experts say. 

This smooth and whisper-quiet five-seater first sped onto the market in 2017 as a more affordable option in the EV space. And since, the Model 3 has been among the world's top selling plug-in electric cars.

Sure, they’re electric but super quick, accelerating from zero to 100km/h in just over 3 seconds. This is said to be due to its dual electric motors, one in the front and rear. So you’d assume a similar level of performance from the new Performance - though perhaps much more.

In some top secret photos, recently leaked to tantalise the Tesla troop, experts note a new front bumper, air inlets on the side, a front splitter and sporty fins, among other changes. 

How much for a Model 3 Performance?

Australian deliveries are likely in the second half of 2024 or early 2025, though it’s not clear how the car’s price might change from earlier models. As a benchmark, the previous dual-motor Model 3 was around $83,000 before on-road costs. So the price of this new iteration probably still won’t please a lot of smaller budgets.

With that said, EVs are increasingly on the want-list of Aussies, even amid some higher price points.

Cost isn't always the top concern, especially for those who can make use of a sensible car loan. No, a lot of drivers (at least anecdotally) seem apprehensive to jump into the EV market due to other factors, including the shorter driving range of some brands, as well as limited charging infrastructure around Australia.

There’s been a great deal of talk about improving EV adoption in Australia, however. For example, the Clean Energy Finance Corporation (CEFC) has said the transition to EVs is inevitable as our infrastructure improves, more models are brought to market and the broader uptake of these vehicles helps to bring down prices. It might take a while though: the CEFC predicts EVs could represent 90% of all cars and light commercial vehicles in Australia by 2050. 

There are shorter-term milestones: the government-owned CEFC has suggested that by 2030 about 50% of new car purchases could be EVs. Given the interest and hype around the new technology and the stylish designs of some of these cars, such as the Model 3 Performance, that doesn’t seem too wild a prediction. 

Is the Aussie EV market improving or stuck in neutral?

In a report on the current EV market, energy consultancy Energeia suggested three things need greater focus for Australia’s EV uptake to improve: policy incentives that reduce the payback period for the EV purchase premium, greater model availability and far more charging stations away from home. 

We’re getting there. Recent EV offerings from the likes of Peugeot, Volkswagen, Hyundai, Polestar and Kia are helping with the drive toward electrifying our roads. The NRMA has noted this and says the case for buying an EV is improving with more chargers being rolled out across the country. It also notes the favourable cost-savings that can be made down the road, so to speak.

On its site, the NRMA says EV owners save from $810 to $1400 each year on average, providing savings of up to $7000 in just a five-year ownership period. So for those keen to help Australia meet its net zero emissions target and contribute to a healthier community generally, there might be the added bonus of actually saving money.

If you’re in the market for an electric vehicle, our Mozo experts have handpicked some of the best green-specific car loans on the market. We also analyse some of the best all around car loans available in Australia. A little comparison can go a long way - so start comparing below!