Tesla has significantly lowered the prices of its Model 3 and Model Y vehicles in the US market, following a similar move in the Chinese market. According to recent reports, the price cuts have led to the selling price of the Model 3 in some cities or states in the US to be lower than the price of a used car.
One user on social media revealed that after taking into account tax credits, the starting price for a new standard Model 3, which is the rear-wheel drive version, is $36,500, while the selling price of a 2020 standard Model 3 is $38,600. According to Tesla’s official website, the current starting price for the rear-wheel drive Model 3 in the US market is $43,990, which drops to $36,490 after subtracting the $7,500 tax credit.
These reports indicate that the price of a new Model 3 is now lower than the price of a used Model 3, primarily due to Tesla’s significant price cuts and tax credits. Used Model 3s are currently not eligible for the $4,000 tax refund unless the price is below $25,000.
Multiple cities in the US now have new Model 3s selling for less than used cars. In Fremont, California, where Tesla’s first fully-owned factory is located, the lowest priced standard Model 3 used car is $35,600, while another 2019 standard Model 3 is selling for $37,600, which is more expensive than a new Model 3 with tax credits applied.
Overall, these price cuts and tax credits have made Tesla’s Model 3 more affordable for consumers and have led to the price of a new Model 3 being lower than the price of a used Model 3 in some cities. This move could attract more buyers and boost sales for Tesla in the US market.
One user on social media revealed that after taking into account tax credits, the starting price for a new standard Model 3, which is the rear-wheel drive version, is $36,500, while the selling price of a 2020 standard Model 3 is $38,600. According to Tesla’s official website, the current starting price for the rear-wheel drive Model 3 in the US market is $43,990, which drops to $36,490 after subtracting the $7,500 tax credit.
These reports indicate that the price of a new Model 3 is now lower than the price of a used Model 3, primarily due to Tesla’s significant price cuts and tax credits. Used Model 3s are currently not eligible for the $4,000 tax refund unless the price is below $25,000.
Multiple cities in the US now have new Model 3s selling for less than used cars. In Fremont, California, where Tesla’s first fully-owned factory is located, the lowest priced standard Model 3 used car is $35,600, while another 2019 standard Model 3 is selling for $37,600, which is more expensive than a new Model 3 with tax credits applied.
Overall, these price cuts and tax credits have made Tesla’s Model 3 more affordable for consumers and have led to the price of a new Model 3 being lower than the price of a used Model 3 in some cities. This move could attract more buyers and boost sales for Tesla in the US market.
