Tesla prices have dropped further and now start under $40,000

Tesla continues to make its electric cars cheaper with the company slashing prices on the Model 3 and Model Y ranges Now, drivers can get into Tesla for as little as $40,00 before any incentives start.

The move is the latest in a line of price cuts for Tesla after those prices have risen steadily over the past few years.

Electric Note that the Model 3 is now available for less than $40,000, and Tesla is apparently eager to tackle the federal tax credit, which has been reduced from $7,500 to $3,750.

The Model Y also got some price cuts, this time across the entire lineup.

  • Model Y AWD: $49,990 to $46,990
  • Model Y Long Range: $52,990 to $49,990
  • Model Y Performance: $56,990 to $53,990

The Model Y still qualifies for full tax incentives, which means buying the car in some states could mean a brand new Model 3 will cost around $35,000. That’s an impressive price for many EVs, though prices definitely start to rise when you choose long-range or performance models.

Tesla previously raised its prices citing global supply chain issues and the rising cost of manufacturing cars. These changes would suggest that things are improving, with Tesla likely also benefiting from reduced costs thanks to greater production in recent months.

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