Another price drop? Tesla is lowering prices to drum up Q4 sales of its most popular cars.
As the third-quarter sales numbers come in, Tesla fell short of hitting expectations, though it is still by far the best-selling electric brand on the market. Making this year’s delivery goal requires selling nearly half a million more vehicles in this quarter, so the company rolled out a new set of price drops on the Model 3 and Model Y to entice more buyers to take the plunge.
Starting with the Model 3, the base rear-wheel drive model sees a $1,250 shave off its MSRP. It now starts at $38,990, and that’s before you factor in the $7,500 tax credit or any available state incentives. Factor in thousands more (TFL’s home state of Colorado offers $5,000, for example), and you could effectively nab an entry-level Model 3 for right around $25,000. Keep in mind, you will need to factor in a $1,390 destination fee on whichever version you choose here.
The Tesla Model 3 Long Range sees an identical $1,250 price cut, so it starts at $45,990. The Performance gets a $2,250 shave off its MSRP, down to $50,990. This latest cut marks a series of price drops for the Model 3. Asking prices are down about 17% this year, and the Model Y is now 26% cheaper than it was back in January.
Speaking of the Model Y, Tesla just reintroduced an entry-level RWD model to the lineup. The automaker did not cut that particular version, so you’ll still have to pay $43,990. However, that is still $4,500 less than the Model Y Long Range, which now starts at $48,490. That drop represents a $2,000 price cut from where it was previously.
The Model Y Performance, for its part, starts at $52,490 before incentives.
How long will prices stay this way?
While it’s arguably the least expensive time ever to buy a new Tesla, it’s unclear how long prices will stay at this point. Will they go back up, or will they drop even further? It’s tough to say, because it feels like we should have a live page to keep track of all the shifting around Tesla likes to do with its new car pricing.
Nevertheless, any money you can save is a plus, and nearly 20% off versus the beginning is the year is nothing to scoff at. Is it worth buying a Model 3 or Model Y now before the facelifted versions arrive? That’s up to you.
