Will You Buy an Affordable Tesla After Six Successful Price Reductions?

 

Tesla, the company that has revolutionized electric vehicle production and technology, recently dropped prices for its latest $40K model to their lowest price ever. This news comes after Tesla reducing their prices six times in just four months’ time! Could this be too good to be true or is it really a bargain price? In this blog post we will take an overview of the groundbreaking new model and explore if Tesla's newest electric car is worth such an amazing deal.

Tesla Model 3’s Price drops

Tesla's line of vehicles includes the Model 3, a popular four-door sedan with rear-wheel drive. It holds the distinction of being the least expensive model in Tesla's lineup. According to Motor Intelligence data, CNBC reveals that it currently ranks 13th in vehicle sales for 2022, with an impressive count of 211,641 units sold.

Interestingly, Tesla decided to slash $2,000 off the price tag of the Model 3. As a result, its base cost now stands at $39,990. This reduction places it as a more reasonably-priced option among electric vehicles (EVs). However, it must be noted that there are still hybrid plug-ins and forthcoming 2023 EV models such as the Chevy Bolt EUV, Mazda MX-30 Hyundai Kona Electric and Kia Nero EV that have lower price points according to Edmund’s rankings.

Nevertheless, what sets apart the Tesla Model 3 is its affordability when compared to typical new cars on the market. Bloomberg previously reported in February that when priced at $42,990 back then, it was already selling for $4,930 less than your average American-made car purchase.

Tesla has recently made its sixth price reduction on electric vehicles this year, with the second price cut happening just this month. As reported by CNN, CEO Elon Musk emphasized that although these reductions result in lower short-term profits, they are deemed necessary.

Musk explained, "Although we significantly lowered prices in the beginning of Q1, it's important to acknowledge that our operating margin still remains one of the strongest in the industry. Our strategy is focused on prioritizing higher volumes and a larger fleet rather than settling for lower volume and higher margins."

Price history of Tesla Model 3

When it comes to electric vehicles, Tesla's Model 3 stands tall. With its exceptional affordability, performance, and range, it has captured the hearts of countless drivers seeking a switch from traditional gasoline-powered cars. But how have the prices of Tesla's Model 3 evolved through time?

Back in 2016, when the first version of the Model 3 hit the market, customers could get their hands on one for just $35,000 USD. Remarkably cost-effective considering all the cutting-edge features: robust batteries, advanced autopilot capabilities (even though fully self-driving functionality was still in development). During its initial release phase, color options were limited to black or white with only a handful of available trims to choose from.

The Tesla Model 3 went through several updates in 2017 and 2018. These updates included the addition of new interior color options like silver or blue, as well as an increase in battery range for longer travel on a single charge. Along with these improvements came a rise in prices, reaching up to nearly $60K USD depending on customer choices such as wheel sizes and paint jobs.

However, by 2019 Tesla had refined their production process to the point where they could offer discounts on their vehicles. They introduced sales events like "Cybertruck Day," during which customers who purchased a car online instead of visiting one of their stores directly received valuable extras such as extended warranties. This approach allowed them to lower base prices once again (though still higher than original costs due to inflation), making electric vehicle ownership more accessible than ever before for those interested!

Is the $40K Tesla Model 3 a Good Deal?

Lately, there has been a significant buzz surrounding Tesla's $40K Model 3. It seems to be an appealing option for those seeking an affordable electric vehicle. However, is it truly as great of a deal as it appears to be?

Let's begin by discussing the impressive range offered by the Model 3. With over 250 miles per charge and the added perk of supercharging capabilities, you can hit the road without fretting about running out of battery power. Additionally, this car boasts a well-designed interior equipped with an abundance of tech features such as autopilot, enhancing your safety and convenience while driving. Not to mention its sleek exterior design that will undoubtedly grab attention as you glide through town!

Moreover, Tesla presents ample customization options, allowing you to personalize your ride according to your preferences. Such flexibility adds an extra layer of appeal to the Model 3, as it ensures a bespoke vehicle experience with every purchase.

Nonetheless, despite these favorable aspects, there are certain potential drawbacks that warrant consideration prior to diving into purchasing this high-priced EV. Firstly, servicing expenses can soar due to limited dealer networks in specific regions. Additionally, occasional reliability issues have been reported in comparison to other brands within its class which could result in unforeseen costs down the road should repairs or maintenance become necessary. Furthermore, not everyone might find the interior ergonomics comfortable owing to the compact space and close proximity of various components. Lastly, while basic safety features are included with the vehicle package itself; advanced driver-assist functions require supplementary packages at an additional cost.

The Bottom Line

To sum up, the Tesla Model 3 is an incredible deal for its price of $40K. Even after multiple price cuts, this car manages to deliver exceptional performance, luxurious features, and cost-effective operation—all wrapped up in a charming and efficient package. It's undoubtedly one of the top choices for consumers seeking an affordable electric vehicle that offers some of the perks associated with owning a Tesla.


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