Tesla significantly lowers EV price in Europe and the US

After steadily increasing Prices for the past couple of yearsTesla was founded in cut them drastically In an apparent attempt to increase sales, the Model 3 RWD has been dropped from $46,990 to $43,990 in both the US and Europe. The Model 3 RWD has dropped to $46,990 from $43,990 while the Model Y Long Range (5-seat) fell 20% from $65,990 a $52,990. That means the latter model now qualifies for the $7,500 US Federal Tax credit, so the final price drop will be $20,500 — over 30 percent.

The price of all other models saw price drops, including Model S (plain and regular) and Model X(both plaid and regular versions) as well as the performance versions and Model 3 and Model Y. The Model Y’s 7-seat option has gone up in price from $1,000 to $4,000. Although the Model Y’s price has risen to $55,000, the Tax Credit still applies as the vehicle is an SUV. German Model 3 and Y prices were reduced one to 17% in Germany. The same was true for models 3 and Y in Austria, Switzerland, France and France.

Customers must order before mid March to get the full $7500 rebate. It is likely that it will be reduced to half of what it was in March. Tax rebates are available for SUVs under $80,000 and cars below $55,000. The Model Y fell within both of these categories, depending upon the number and type of seats. weren’t eligible — something CEO Elon Musk called “messed up.” All Model Y EVs, except Performance, appear to be eligible.

After years of sales success, reports indicated that Tesla inventories were beginning to build up. in China, then the US. Tesla recently cut prices China: Later declined Customers who complained may be compensated. The Model 3 is now priced at 229,900 Yuan ($33,425) in this country.

Tesla and CEO Elon Musk did not weigh in on the price reductions, but potential buyers will be happy (and some of those who purchased recently were dissatisfied). The Model 3 was initially intended to be $35,000 in cost. It was shipped for a limited time in this configuration, but prices increased to $46,990. announced in March 2022. Musk last month said Tesla’s potential price drop could be due to “radical interest rates changes”, which had a negative impact on vehicle affordability.