Tesla has made further price cuts to its inventory of new Model 3 and Y cars, with US customers able to buy the new Model 3 for as low as $37,940 (currently around CNY 272,000).
Of course, if you factor in the $7,500 tax credit eligibility (not everyone in the US qualifies for the full credit), that could even be reduced to $30,440 (currently around CNY 219,000).
Compared to the discounts on the Model 3 (which range from a few hundred dollars to more than $5,000), the discounts on the Model Y are relatively small (up to $2,770) and mostly on the performance version.
Due to new regulations introduced in the US last year, Tesla Model 3 standard range versions that drop below $35,000 (currently around Rs. 251,000) are ineligible for any kind of federal tax credit.
While the vast majority of Americans won’t qualify for the full $7,500 tax credit, the price is already a threat to a host of fuel-efficient cars.
For comparison, the current 2023 Honda Accord starts at $27,285 (currently around CNY 197,000), the Toyota Camry starts at $264,300 (currently around Rs. 191,000), the Civic at $23,750 (currently around CNY 172,000), and the Corolla at $21,700 (currently around CNY 157,000).
As per previous leaks, Tesla plans to launch the new version of the Model 3 in the third quarter of this year, so it’s currently clearing out as much of its existing inventory as possible.
Considering that the Model 3 has been on the market for six years now, a major update from Tesla is really necessary. Given that the model has a lot in common with the Model Y, the industry expects Tesla to launch a new Model Y soon as well.
