Most automakers raise or — less frequently — lower vehicle prices to coincide with redesigns, refreshes or feature updates. Tesla, however, is not most automakers. As such, it lowered pricing on the base trim levels of its two least expensive models, the Model 3 sedan and Model Y SUV. The Model 3 drops $1,000 to $38,190, and the Model Y drops $2,000 to $41,190. All prices include a $1,200 destination fee but not Tesla’s “potential savings” calculation nor any potential federal plug-in tax credit, as Teslas are no longer eligible. (State and local tax incentives may still apply.)
There’s no official reason why the Model 3 and Model Y prices dropped, but speculation ranges from an attempt to increase sales to a response to the pricing of the new 2022 Chevrolet Bolt EV and Bolt EUV. Prices for Teslas have also changed in the past because Elon Musk, the company’s CEO, perhaps thought the new number was funny.
The decrease applies to the rear-wheel-drive Model 3 Standard Range Plus and the RWD Model Y Standard Range. But while those prices went down, the top trim levels of each model, dubbed Performance, increased by $1,000 apiece. The Model 3 Performance will now cost $57,190, while the Model Y Performance comes in at $62,190.
If the price drop on the base Model 3 and Model Y make those models more appealing, now might be the time to pull the trigger, as there’s no telling how long this decrease will last. But there’s also no guarantee the price won’t drop even more: At one point the Model 3 was available for even less. Like we said, Tesla doesn’t operate like other automakers.
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