Tesla Inc. renews its thrust in the North American market as the much-awaited new Model 3 becomes available, holding steady at the same price point as its predecessor.
Price Rundown: The basic model of the rear-wheel-drive Model 3 starts at $38,990, while the Long Range edition kicks off at $45,990. The ranges for these iterations are estimated at 272 miles and 341 miles, respectively. Notably, the new Long Range variant ups the ante on mileage by an additional 8 miles compared to the older iteration.
However, the Performance version is notably absent from the current listings on the website.
Significant Takeaway: The debut of the new Model 3 maintains the price parity with the older version. Nevertheless, the vehicle no longer qualifies for the federal EV tax credit amounting to $7,500.
For those considering a lease, there exists an alternative incentive offering a $7,500 EV lease incentive dispersed over a 24-month or 36-month lease term.
It should be noted that Tesla unveiled the revamped Model 3 in China in late August, albeit at a higher price point compared to the previous model.
During the third-quarter earnings call last year, Tesla chose not to divulge the release timeline for the Model 3 Highland’s U.S. launch and abstained from fielding product-related queries during the call.
Also of note is that all versions of the Model Y, the all-time best-selling EV, remain eligible for the federal tax credit, rendering the Model Y rear-wheel-drive and long-range versions more cost-effective than their Model 3 counterparts after the tax credit.
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