Tesla Model 3 Gets Another Price Cut

Kevin Williams
by Kevin Williams
tesla cut prices of model 3 existing new inventory again

Tesla’s penchant for price cuts hasn’t slowed down.

Tesla’s second quarter results may have been somewhat of a mixed bag. Profits and revenue are way up, but investors and pundits alike aren’t all that thrilled with the brand’s reduced profit margins on its models, because of its drastic price cuts. Yet, that hasn’t stopped Tesla from cutting prices further. There are price cuts on existing new inventory Model 3s.

All across the United States, Tesla has shaved more than $2,000 off existing stock of Model 3s. It’s not just limited to the top trim Performance AWD Dual Motor, the Long Range AWD, and standard range RWD models also get significant price cuts. Arguably, the single motor is the most impressive deal; at $37,940 (not counting the $1,390) destination fee. The Model 3 is eligible for the full $7,500 tax credit, which means the Model 3’s base price could slip in right at the $30,000 mark.

That is a screaming deal. Even in single-motor RWD form, the Model 3’s 272 EPA estimated range bests nearly every competitor at the price point. The now-discontinued Chevy Bolt EV and Bolt EUV may clock in cheaper, but they can’t go as far and are not as fast.

On one level, this could be the right time to buy a Tesla, or any EV for that matter. On the other hand, the Model 3 is very overdue for an update. The rumored Model 3 “highland” update should be on roads very soon, and it would likely further reduce the prices of existing inventory. An even better deal could be on the horizon.

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