Tesla has just cut prices on its most popular models… again

Now some of Tesla’s most popular models are more affordable than ever.

Published on Oct 9, 2023 at 10:41AM (UTC+4)

Last updated on Oct 9, 2023 at 3:00PM (UTC+4)

Edited by Kate Bain
Tesla cuts prices on Model 3, Model Y

Tesla is lowering the price of its EVs yet again.

The carmaker wants to produce 1.8 million cars in 2023, and it’s making some pretty decent price cuts to reach that goal.

Now some of Tesla’s most popular models are more affordable than ever.

READ MORE! Everything we know about Tesla’s Cybertruck ahead of imminent delivery date

The base price of the Tesla Model 3 has dropped from $40,240 to $38,990 and the price of the Long Range version has been cut from $47,240 to $45,990.

Meanwhile, $2,250 has been knocked off the price of the Model 3 Performance, which is now available for $50,990.

The carmaker recently launched a new and improved Model 3, so the price cuts are also likely an attempt to clear stock of the older models.

Speaking of the facelifted Model 3, it will come with a longer range and faster charging rate.

And while it doesn’t deviate from the standard look of Teslas, it’s being marketed with sleeker exterior styling and a more luxurious cabin.

The new price cuts come after Tesla also reduced the price of its Model Y.

The Long Range model was reduced to $48,490 while the single-motor variant remains priced at $43,990.

What makes these EVs even more appealing is the $7,500 federal tax credit.

Industry insiders suggest Tesla is dropping prices across the board to make up for falling short of its Q3 expectations.

But with the release of the Cybertruck right around the corner, it’s unlikely Tesla will struggle with that issue for much longer.

Tesla says it already has more than two million orders for the truck.

CEO Elon Musk promised we’d see deliveries start in late 2023, but the launch of the Cybertruck has been shifted back more times than we can count.

So, how many orders the brand will be able to honor before the end of the year remains to be seen.

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