World news – Tesla’s price cut makes Model 3 and Model Y cheaper – with a catch

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Tesla has mixed prices for its cheapest electric vehicles, quietly cutting the cost of the entry-level 3 and model Y, although the sticker has been increased for performance versions. The changes will come less than a month after Tesla updated the Model S and Model X with a new exterior and interior design, as well as powerful new plaid performance variants.

For Model 3, the Standard Entry Level Range Plus is now $ 36,990 before incentives and other eligible credits. This is a reduction of $ 1,000 from the previous price. The car has an estimated EPA rating of 263 miles and can do 0-60 mph in 5.3 seconds.

However, the Model 3 is now performing at $ 55,990, an increase of $ 1,000 from before. This is the fastest version of the car, going from 0 to 60 mph in 3.1 seconds. It’s rated for an estimated EPA range of 315 miles and increases the electric vehicle’s top speed to 162 mph.

As for the Model Y, the standard range’s entry-level rear-wheel drive is now $ 39,990, compared to the previous price of $ 41,990. It’s rated for a range of 244 miles and can go 0 to 60 mph in 5.3 seconds.

The Model Y is now performing at $ 60,990, up from $ 1,000, according to Reuters. It has a range of 303 miles and a 0 to 60 mph time of 3.5 seconds and a top speed of 155 mph.

Price adjustments are hardly unusual for Tesla, as the numbers are adjusted far more frequently than other automakers. Often times, this has been a response to factors such as rapidly approaching quarterly milestones where the company hopes to pump deliveries for better presentation in financial reports. However, Tesla previously cut its prices when the U.S. federal electric vehicle tax incentive expired to ease the blow to potential owners.

Even without the federal incentive, there are still state, local, and even useful incentives for new EV buyers knowing they need to look for them. For example, in California, battery electric vehicles get a discount of $ 2,000 – or more than double the price for those with low- to middle-income households – although the amounts vary in other states. Many electricity companies offer subsidized EV chargers or discounts in addition to their EV-specific tariff plans to cover the installation of a charger.

Tesla’s adjustments come as Chevrolet lowers the price of its entry-level electric option. Pricing for the 2022 Bolt EV is $ 31,995 plus target, a $ 5,000 discount from the previous model year, and it will continue to offer 259 miles of range, according to the automaker. Like Tesla, Chevy is no longer eligible for the U.S. federal EV tax incentive, although those who buy or lease a new Bolt EV will get a free level 2 pre-wiring installation to prepare their garage for a more powerful charger.

Ref: https://www.slashgear.com

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