The Tesla Model 3 EV becomes the most affordable car ever made in this country.That’s it


California’s tax rebate and the U.S.’s federal Clean Car Credit have made certain electric vehicles more affordable for certain buyers. One of those vehicles is the Tesla Model 3, which has seen its price slashed thanks to incentives, making it the most affordable car ever. The all-electric Tesla compact sedan is currently priced at $19,830.

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Updated on:
June 6, 2023 at 10:02 am

Thanks to California incentives, Tesla’s Model 3 electric sedan has been slashed to just $19,830, its most affordable price ever.

In some parts of California, a standard-range Tesla Model 3 may cost less than half the MSRP. The base rear-wheel-drive Model 3 has a range of 437 kilometers, a 0-96 km/h time of 5.8 seconds, and a starting price of $40,240. Factors such as two tax credits in California, as well as a U.S. federal tax credit, could help the price of a Tesla Model 3 plummet to $19,830. However, to receive this benefit, consumers must be eligible for the program.

Also read: GM CEO Mary Barra says Tesla’s lead is temporary, no mass-market EVs

Let’s take a look at how the price of the Tesla Model 3 has fallen to this level. The base model Tesla Model 3 starts at $37,830 with referral links and inventory discounts through the WaitingForTesla website. That price can be brought down to $22,830 by applying a $7,500 federal tax credit for select eligible EVs, plus an additional $7,500 in incentives from the California Clean Car Rebate Program (CVRP). Additionally, San Joaquin Valley residents can receive an additional $3,000 in incentives from the local Air Pollution Control District for choosing zero-emission vehicles. That could bring the Model 3’s price down to a lucrative $19,830.

However, there are some pitfalls. Federal tax credits are not available for all individuals and models. EVs must be manufactured in the U.S., Mexico or Canada to qualify for the tax credit. Additionally, it must meet specific battery requirements. Additionally, to qualify for the CVRP, consumers must reside or do business in California. Additionally, consumers must meet certain income eligibility requirements. While high-income earners are eligible for a $2,000 rebate, low- and moderate-income earners can get an additional $7,500 rebate.

First published date: Jun 6, 2023 at 10:02 AM CST

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