Tesla cuts Model 3 price by $3210 - electric car already costs less than $40,000

Tesla is once again lowering the price of its popular electric cars. The Model 3 and Model Y, Elon Musk's best-selling vehicles, have recently dropped in price.

Here's What We Know

The Tesla Model Y went up in price earlier this month, but the price of the electric car in the Dual-Motor Long-Range AWD variant recently dropped by $560. The vehicle is now priced at $55,460.

The Tesla Model 3 in the Rear Wheel Drive configuration has dropped in price much more significantly. The cost has dropped by $3210 and now stands at $39,530. In addition, buyers can count on half of the federal deduction ($3750).

What the next price drop is due to, it's hard to say at the moment. Tesla may just want to increase sales of electric cars by the end of the second quarter of 2023 to brag about volumes in its financial report for April-June.

Another reason could be the company's desire to get rid of inventory before releasing new models. Tesla is working on a revamped version of the Model Y. The electric car is codenamed Juniper and is likely to hit the market next year. There are also rumours of a revamped Model 3 codenamed Highland.

Source: carscoops