Economy

Tesla cuts Model 3 price for the second time this year

Tesla cuts Model 3 price for the second time this year”

All variants of the Model 3 will now start at $1,100 less, with the tradeoff being the end of the customer referral program. After tax credits and estimated fuel savings, Tesla says the equivalent cost is $34,850.

In a reply to a Twitter user asking about when Tesla would drop the Model 3 base price to $35,000, without credits, Musk said, "We're doing everything we can to get there.

The move follows a US$2,000 price cut on all Teslas announced in early January to partially offset the reduction in the USA federal tax credit its vehicles were eligible for.

This doesn't mean Tesla has become more transparent when it comes to displaying actual pricing, a fact demonstrated yet again by Elon Musk's tweet below.

In Colorado, drivers travelling an average of 12,000 miles (a conservative value that is less than the state's average 13,443 annual miles) and accessing the state's $US5,000 incentive can essentially buy the mid-range Model 3 for under $US30,000 ($A42,220). Elon Musk promoted the new price cut on Twitter by pointing out that it brings the effective cost of ownership below that mark after federal tax credits and fuel savings over a similar gas-powered auto.

Tesla has cut the starting price of its Model 3 sedan by more than $1,000, bringing it closer to its long-fabled $35,000 price tag.

Tesla has previously said in a statement that that ending the costly customer referral program has allowed it to cut the Model 3 price. The upcoming model will be.



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