Tesla Decreases Prices of The Standard Range Model 3, Model Y

Tesla has decided to drop the prices of its two most affordable offerings, the Model 3 and Model Y. The new prices are live on the Tesla website, where you can find the starting price of the Model 3 Standard Range is US$38,190 - a decrease of US$1,000 from the outgoing model selling at US$39,190. On the other hand, the Model Y Standard Range will sell $2,000 cheaper than before with a starting price of $41,190. Previously, it was wearing a price tag of $43,190.

The news comes a few days after the Chevrolet introduced its two new EVs – the 2022 Bolt EV and the 2022 Bolt EUV. The decision may have been made in response to Bolt’s $5,500 price cut for the new model. However, even with the price decrease, the two tesla cars are much more expensive than Bolt’s EVs. The 2022 Bolt EV costs $31,995, while the Bolt EUV starts at $33,995.

No doubt, electric cars are far more expensive than their gas-powered counterparts are. However, improvements in technology may bring prices down and make them nearly equal to combustion-engine-powered vehicles. Some experts believe it could happen as early as 2023. Before it materializes, it is natural for automakers to undercut their opponents on the price to increase their market share.

Undoubtedly, Tesla offers more driving range than other EVs in the market, but its Standard Range Model 3 and Model Y’s are on par with Bolt EV and EUV delivering 259 miles and 250 miles, respectively. The Model 3 and Model Y offer 263 miles and 244 miles correspondingly.

Of note, while decreasing the Standard Range costs, Tesla bumped the prices of the Performance variants. Both the Model 3 and Model Y Performance trims gain US$1,000 price on the sticker, now sells at US$57,190 and US$62,190 respectively.

Source: CarandDriver