For a while, it seemed like Tesla's values would never come back to Earth. Buyers lucky enough to get a new EV from the automaker were flipping their cars for way more than the asking price, and many people overpaid as a result. Tesla started cutting prices earlier this year, making all models more attainable, and now the company has slashed the price of an entry-level Model 3 to below $40,000.
The rear-drive Model 3 now costs around $39,000 to start, a significant drop from the high prices in the last two years. That number becomes even more appealing after government tax credits, which cut another $3,750 off the price, making the Model 3 a compelling EV.
Price cuts have made the Model 3 more affordable for leasing, too, as the car is now around $384 per month. That’s far from cheap, but consider that many EVs are twice that much or more each month, and the Tesla becomes far more appealing.
Tesla is enjoying the benefits of scaling its production efforts, which have made building new EVs much cheaper and faster for the company. We expect to see a new Model 3 in the coming months, and the automaker has long promised that we’d see the Cybertruck in late 2023, so this year is shaping up to be a busy one for Tesla.
[Image: Tesla]
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via Autobuzz Today
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