10 Biggest News Stories of the Week: Tesla Model 3, S, X, Y Discount Devalues Affordable Ford Maverick
Missed year-end sales targets, ever-stiffening competition, rising inventory and falling stock prices — plus a desire to remedy all of this by benefiting from a program that would enable some of its model lineup to requalify for the $7,500 federal tax credit for electric vehicles — are baked into the same cake that’s getting so-inclined shoppers a sweet deal on a new Tesla.
Related: 10 Biggest News Stories of the Year: Tesla Model Y Leads the Charge in an Electrifying Year in Cars
In one of Cars.com’s most popular news articles of the past week, we examine the impetus for these latest price cuts, which are largely seeking a boost from the federal Inflation Reduction Act — though, this isn’t the first time in recent months that Tesla has discounted its cars in ostensible response to market conditions. But what’s most important to Tesla shoppers is how much they can expect to save on a Model 3 or Model S sedan, or Model Y or Model X SUV. Short answer: In some cases, a lot.
Depending on trim, the Model 3 is down as much as 14%, ringing up at just under $44,000 at its cheapest; the Model Y is down 19%-20%, just under $53,000 at the low; the Model S is down 10%-15%, or as low as $94,990; and the Model X is down 9%-14%, less than $110,000 at its most modest. Bear in mind, you’ll still have to pony up some $1,640 for the destination charge and fees, which are not included in these totals (think of ’em like resort fees at a Las Vegas hotel: you’re not sure what you get for that money, but pretty much everybody’s gotta pay it anyway).
For the full scoop on Tesla’s lower-priced lineup, follow the link below to the No. 3 news story on this week’s countdown.
In other news for the frugal car shopper, Cars.com just this week released its inaugural Affordability Report for 2023 comprising nearly three-dozen budget-conscious models for budget-conscious shoppers intimidated by headlines decrying fast-inflating new-car prices. Astute readers will notice that the cars featured in the Affordability Report are on the smaller side — be they cars, SUVs, pickups or EVs — given the fact that American consumers’ growing penchant for bigger vehicles is a major contributing factor to the median-price explosion. Prerequisite features to make the grade included Apple CarPlay and Android Auto, a blind spot monitor, forward collision warning with automatic emergency braking and pedestrian detection, and lane departure warning.
Model-year 2023 value cars included in the report range from $20,240 (all prices include destination) for a specified trim of the Kia Rio to $22,005 for the Hyundai Elantra; from $23,440 for the Chevrolet Trailblazer to $29,625 for the Buick Encore GX on the small SUV front; from $26,660 for the Ford Maverick to $32,470 for the Ford Ranger, among small pickup trucks; and from $28,330 for the Chevrolet Bolt EV to $42,033 for the Mitsubishi Outlander PHEV, among electrified models.
For the full Affordability Report — including median trim and base prices, EPA-estimated fuel economy, annual fuel costs and warranty terms — follow the link below to No. 5 news story of the week.
Beyond all that, we’ve got headlines on the Nissan Altima, Ford Maverick and much more — so don’t stop reading till the digits double. Here are the top 10 news stories Cars.com readers couldn’t get enough of in the past week:
1. Which SUVs, Minivans and Sedans Have the Most Cargo Space?
2. Here Are the 10 Cheapest New Cars You Can Buy Right Now
3. Tesla Slashes Prices as Much as 20% Across Lineup
4. Used-Car Prices Are Finally Dropping; Here’s What to Expect in 2023
5. 2023 Cars.com Affordability Report: Best Value New Cars
6. Is the Inventory Shortage Coming to an End?
7. What’s New With Electric Vehicles for 2023?
8. 2023 Nissan Altima 2.0 SR Review: A Sensible, Somewhat Sporty Sedan
9. Leased and Used Electric Vehicles Now Qualify for Federal Tax Credits
10. What It’s Like Towing With a 2022 Ford Maverick Hybrid
Cars.com’s Editorial department is your source for automotive news and reviews. In line with Cars.com’s long-standing ethics policy, editors and reviewers don’t accept gifts or free trips from automakers. The Editorial department is independent of Cars.com’s advertising, sales and sponsored content departments.
