Giant EV continues to lower the price of its affordable offerings, with $250 added to the price of the Model 3 and Model Y.
Tesla quietly raised the price of the Model 3 sedan by $250 on Monday. The long-range and performance model of the Model Y recently received a $2,000 price cut, and a new base model of the Model Y has entered the lineup.
The latest price change comes after a reduction process to help the Model 3 and Model Y meet the latest EPA standards began on April 18. Update 5/3/23: Tesla updated Model 3 and Model Y prices on Monday
, gradually increasing both models by $250. The cheapest Model 3 with rear-wheel drive now starts at $41,880, and the cheapest Model Y, which comes standard with all-wheel drive, starts at $48,880.
If you’ve been hesitating about buying a Tesla Model 3, now is the time to decide. In anticipation of federal tax credit cuts starting later this month, the company lowered the price of a single-engine, sedan sedan by $1,000 on Thursday.
“Based on new IRS guidelines, the $7,500 credit for the Model 3 RWD will be reduced on April 18 to $3,750,” the automaker said in a statement on federal tax incentives. from its website.
The reduction comes because the lithium-iron-phosphate battery used in the base Model 3 is the only battery in Tesla’s US lineup that gets its cells from China. For a vehicle to qualify under the Cut Inflation Act,
it must be assembled in the United States, even to be considered for qualification. On top of that, a percentage of its battery minerals must come from a specific list of free trade partners (not counting China)
, and finally, its battery cells must be assembled in North America. This means that by April 18, the Model 3 has a starting price of $43,630 and is eligible for a full credit of $7,500. After that, the credit will be reduced by half. As for what Tesla will do with the price of the Model 3, your opinion is as good as ours.
In other pricing news from Tesla, the long-range and performance models of the Model Y also received a $2,000 price cut on Thursday and now start at $54,630 and $58,630, respectively. In addition, the base version of the Model Y with a range of 279 kilometers was added to
the Tesla website. The base model comes with a slight discount over the Long Range model and starts at $51,630. It was initially listed in the inventory model and was not listed in the long-haul and performance category on the website, with Tesla preferring the In-N-Out secret menu system. Tesla says on its website that the Model Y will continue to be eligible for full credit beyond April 18.
