To heat up the competition and make Tesla cars more accessible to the public, the EV luxury automakers have decided to cut the prices of the Tesla Model 3 sedan and Model Y. Now, what’s interesting here is that the prices are dropped for the most affordable versions of the models.
Tesla’s efforts to make EVs more accessible –
The price of the standard version of the Tesla Model 3 will be reduced by $1,000. The Model 3 was also the most sold EV last year. In fact, its sales were greater than the next five EVs combined! Model 3 witnessed a record sale of roughly 365,000 units globally. Hence, the standard range of Tesla Model 3, which was $39,190 previously, will now start from $38,190.
As for the Model Y, the standard range started from $43,190. It is an all-electric, mid-size SUV. After receiving a deeper price reduction, you can now own a Tesla Model Y at $41,190. Hence, Tesla has reduced Model Y’s value by $2,000.
The Mid-range price, which is also known as the Long Range, of both Tesla Model 3 and Model Y starts at $48,190 and $62,190, respectively. So, the mid-range remains constant!
#Tesla Price drops by $1,000 and $2,000 respectively on the base #Model3 and #ModelY https://t.co/Y3hStdCeb3 pic.twitter.com/VwzaFrgVvN
— TheTeslaLife (@TheTeslaLife) February 18, 2021
The Twist –
Remember, I mentioned that the reduction is just for the standard or the most accessible versions. Interestingly, Musk’s EV brand has simultaneously increased the price for these models’ performance range. The performance range is also known as the top model.
The Performance range of Model 3 was previously available for $56,190. But now the price has been hiked by $1000, making it $57,190. Similarly, the top range of Model Y too received a price hike of $1000, making SUV cost $62,190.
Know your Tesla Cars –
In terms of performance for the standard range –
- Tesla Model 3 offers you a range of 263 miles.
- Tesla Model Y gives a range of 244-miles,
What about the Top models?
- Model 3 offers a range of 353 miles
- 303 miles is the range of performance model of Tesla Model Y.
Competition –
Tesla isn’t the only automaker altering its price. General Motors recently introduced an upgraded version of the Chevy Bolt EV. While the technology has been enhanced, the price has been reduced by more than $5,500. You can now buy the Chevy Bolt at $31,995.
Now it will be intriguing to see how these reduced prices affect the sales of these brands. One good thing is that soon we will have many more affordable EV cars, which will eventually substitute the combustion engines. Until further updates, stay tuned!