After a series of earlier price drops that include several of its electric vehicles, Tesla’s popular Model 3 EV is currently at its lowest price ever, now starting at $39,990. This new price is around 2,000 dollars less than its previous cost, a move initiated by the company ahead of its 1Q earnings release.
Not too long ago, Tesla already slashed a thousand dollars off the Model 3’s price, offering the car for $41,990 alongside other Tesla EVs which saw price cuts for as high as 20 percent off, a decision made by the company earlier in 2023.
According to Tesla, the rear-wheel drive model qualifies for $3,750 in tax credits, after new legal regulations were implemented this April that result in the US straying away from its trade partnership with China. It should be noted that other tesla EVs including the Model Y are still eligible for the full $7,500 tax credits.
In particular, the Long Range and the Performance Model Y EVs now cost $3,000 less than their usual price. Buyers can will be able to get the base Model Y for $46,990, while the Long Range and Performance models will be offered at $49,990 and $53,990, respectively.