Tesla Model 3 RWD Hits $45,900 in Australia, Undercuts BYD by $7,090

Tesla launched a new entry-level Model 3 Rear-Wheel Drive in Australia on October 1, priced at AUD $45,900 before on-road costs, undercutting the previous base model by AUD $9,000. The move makes the Chinese-built sedan the nation’s cheapest electric sedan, beating the BYD Seal Premium at AUD $52,990 and Kia EV4 Air at AUD $49,990. Customer deliveries begin mid-to-late October 2026.

What Tesla removed to hit the $45,900 price

The new Model 3 RWD sheds interior features to reach the lower price. Gone are ventilated front seats, the 8.0-inch rear touchscreen, two speakers (dropping from nine to seven), and full leatherette trim, replaced with textile inserts. Ambient lighting now runs only in the footwells instead of across the dashboard. The steering wheel remains heated and power-adjustable, and the 16-inch touchscreen infotainment system with embedded Grok AI stays standard. The car retains panoramic glass roof, matrix LED headlights, wireless phone charger, and autonomous emergency braking.

Range and performance beat the Premium variant

Despite the lower price, the RWD delivers 572 kilometres of WLTP range, up 52km from the Premium RWD’s 520km. Acceleration is nearly identical: 0-100 km/h in 6.2 seconds versus 6.1 seconds for the Premium. Both use the same 62.5 kWh lithium iron phosphate battery. Tesla has not published motor or battery output figures for the new grade, so exact specifications remain unconfirmed.

Price war reshapes Australia’s EV market

The AUD $45,900 entry point forces competitors to sharpen their pencils. BYD’s Atto 3 Evo starts at AUD $41,990, but that is a small SUV, not a sedan. Hyundai cancelled its Ioniq 3 hatch for Australia in early October, citing high import costs from Turkey and an unworkable business case in the price-sensitive segment. Nissan delayed its Leaf small SUV indefinitely, and Isuzu scrapped the D-Max EV. Chinese marques have forced global brands to either cut prices or import vehicles from lower-cost factories.

Meyka data and analyst view on Tesla stock

Meyka grades Tesla a B+ with a 12-month price target of AUD $385.06, suggesting limited upside from current levels near AUD $373. Analyst consensus stands at Hold (17 Hold, 15 Buy, 6 Sell ratings). The stock trades at a PE ratio of 302.87, well above sector averages, and Meyka’s fundamental metrics score it a Sell on valuation grounds (PE score 1, PB score 1). The new Model 3 RWD may boost volume but faces margin pressure from the AUD $9,000 price cut.

Final Thoughts

Tesla’s AUD $45,900 Model 3 RWD captures Australia’s price-conscious EV buyers but erodes margins. With Meyka grading the stock B+ and analyst consensus at Hold, the volume gain must offset lower per-unit profit to justify the move.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.