Tesla has introduced another round of price cuts, the sixth time it has done so this year.
Lower pricing appeared on Tesla’s website late Tuesday, ahead of the company’s first quarter earnings announcement later Wednesday. It brings the Model 3’s base price down to $41,380 with the mandatory $1,390 destination charge, down $2,000 versus the previous base price that was announced earlier this month.
2023 Tesla Model 3
This new base price effectively brings the price of an entry-level rear-wheel drive Model 3 to well under $40,000 when considering the base version’s $3,750 EV tax credit amount—if the buyer meets income requirements. This amount—half the potential $7,500 available from the federal government— is determined by new rules introduced Tuesday that take into account sourcing of critical minerals and battery components.
This time around, though, the Model 3 Performance doesn’t appear to have been given a price drop, while the entire Model Y lineup has been given a $3,000 cut. The base version now starts at $48,380 with destination, while the Long Range and Performance start at $51,380 and $55,380, respectively. As we recently reported, the Tesla Model Y is now competitively priced versus entries from other brands, EV or not