BREAKING: Own a Tesla Model 3 for Less than $23,000!!! | Latest Price Cut for Model 3 Highland Room
Telsa has been cutting the price of the Model 3 for months now in order to make room for the redesigned codename Highland. Clearing inventory so they will have more room to sell the new model has been the goal and they are getting to some of the lowest prices for the Model 3 in history. However, there is a bit of math to get down to below $25,000
A Tesla model 3, brand new, for under $25,000. No joke. This is Tesla’s website right now as of recording. Lets get into this new pricing but first, lets see why with looking at the overall landscape. Tesla's is definitely changing the game. For the very first time, Tesla has broken into the top 10 best-selling vehicles in the U.S., and it's all thanks to their trusty Model Y crossover. In 2022, the Model Y grabbed the sixth spot, quite an achievement.
But the plot thickens. Tesla's Model 3 is gearing up to give its own sibling a run for its money. The Model 3 is already quite popular and carries the title of Tesla's most affordable model. As we're chatting, the Model 3 is sitting pretty at the 13th spot in 2022 vehicle sales, with around 210,000 units sold, courtesy of the data from Motor Intelligence.
But here's the newsflash – Tesla just took a cool $2,000 off the price tag of the Model 3. Now, that puts the base price at $40,000. It's not the cheapest EV around, especially when compared to hybrids and other 2023 EV models like the Chevy Bolt EUV, Mazda MX-30, Hyundai Kona Electric, and Kia Nero EV.
The Model 3 is a more budget-friendly option for folks who are looking to make the switch to electric. Earlier in 2023, when the Model 3 was priced at $42,990, Bloomberg had already noted that it was offering a sweet deal, selling for almost $5,000 less than the average new American vehicle.
Now, before you start thinking Tesla's just playing Santa with price cuts, let's hear it from the horse's mouth – CEO Elon Musk. According to CNN, Elon explained that the price drops were a necessary move, even though they might dent short-term profits. He mentioned that the focus is on ramping up volume and expanding the fleet, rather than a smaller fleet with higher margins. It's all about the long game.
Here's a twist in the tale – the price reductions came hand in hand with Uncle Sam's changes. The U.S. Treasury rolled out reductions in EV credits, and unfortunately, the timing wasn't great for both current and future Model 3 owners. These price cuts lined up with the EV credit reductions that kicked in on April 18th. So, credits for the Model 3 took a hit and now stand at $3,750, while all other Tesla models still qualify for the full $7,500 credit as per the Inflation Reduction Act.
But wait, there's one more thing to note. Tesla's not only fiddling with the Model 3's price tag – they are also giving the Model 3 a full facelift with hardware changes.
Now how do you get a Tesla Model 3 for about $22,000? Well on Tesla’s website, it all comes down to the credits and Potential savings. The rear wheel drive Model 3 starts at $40,240. But you get to factor in the federal tax credit of $7,500. Which drops it to $32,740. Now here is the tricky part. You have to live in Colorado. Not a bad area. They are giving a $5,000 tax credit. Which drops it below $30,000 to $27,740. And here is where the math gets funky. Tesla includes a potential gas saving, which amounts to $4,800. After adding that, you get your Tesla Model 3 to below $23,000.
So there you have it – Tesla's making some strategic moves on the price chessboard, bringing electric vehicles closer to everyday consumers. Yes, you can potentially get the Model 3 at under $23,000 but you have to live in Colorado and trust Tesla’s gas savings calculator. As for me, I can't take advantage of the price because I live on the coast and still waiting out for either the Audi A6 e-tron or the Electric G-wagon. If you found this deep dive interesting, don't forget to hit that thumbs-up button and maybe even consider subscribing for more intriguing updates. Until next time, peace.
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