Tesla announced it will make significant adjustments to its tax incentives for Model 3, leading to a substantial drop in price.
Tesla recently announced that all three versions of their Model 3 now qualify for full tax credits of $7,500 each; previously only the Model 3 Performance qualified. Both Rear-Wheel Drive and Long Range models qualified for half of that amount - $3750 in each case.
Tesla appears to be setting aside Chinese-built battery cars for other markets. Recently, they began shipping Model Ys from China into Canada as an effort to secure vehicles for the United States market.
Model 3 RWD vehicles equipped with Long Range LFP prismatic cells manufactured by CATL in China disqualified themselves from receiving their full payment amount.
As part of its Inflation Reduction Act, the Biden Administration has designated North American battery cells and automobiles for government tax credits.
Model 3 RWD has quickly become the most affordable Tesla car available. Local incentives could even lower its price to sub $30,000. That would make it the most cost-effective electric vehicle on the market.
Model 3 Long Range models are now available for less than $40,000.
These prices reflect all potential savings available to Tesla owners, including other incentives and estimated gas savings of approximately $2,400.
Tesla indicates that qualifying vehicles must be brand-new.
Tesla recently announced that all three versions of their Model 3 now qualify for full tax credits of $7,500 each; previously only the Model 3 Performance qualified. Both Rear-Wheel Drive and Long Range models qualified for half of that amount - $3750 in each case.
Tesla appears to be setting aside Chinese-built battery cars for other markets. Recently, they began shipping Model Ys from China into Canada as an effort to secure vehicles for the United States market.
Model 3 RWD vehicles equipped with Long Range LFP prismatic cells manufactured by CATL in China disqualified themselves from receiving their full payment amount.
As part of its Inflation Reduction Act, the Biden Administration has designated North American battery cells and automobiles for government tax credits.
Model 3 RWD has quickly become the most affordable Tesla car available. Local incentives could even lower its price to sub $30,000. That would make it the most cost-effective electric vehicle on the market.
Model 3 Long Range models are now available for less than $40,000.
These prices reflect all potential savings available to Tesla owners, including other incentives and estimated gas savings of approximately $2,400.
Tesla indicates that qualifying vehicles must be brand-new.
