A Tesla Model 3 price reduction puts the car closer to its goal of selling for $35,000.
Here what to know about the price reduction for Tesla’s (NASDAQ:TSLA) Model 3.
- The Tesla Model 3 price reduction brings the car’s starting price down to $42,900.
- This is $1,100 cheaper than the previous starting price for a Tesla Model 3.
- According to Elon Musk, the price is actually about the same as the company’s goal of $35,000.
- However, this is only after taking into account roughly $8,000 worth of savings for customers.
- These savings come in the form of tax breaks, as well as reduced costs over gas vehicles.
- This is actually the second Tesla Model 3 price reduction of 2019.
- The Tesla Model 3 already saw its starting price drop by $2,000 back in January.
- The new price cut for the Tesla Model 3 also comes after the car didn’t sell as well in January.
Tesla CEO Elon Musk took to Twitter (NYSE:TWTR) to announce the new price for the Tesla Model 3. During this time, some customers mentioned the goal of a $35,000 starting price before savings. Musk said that the company is doing “everything we can to get there,” and that it is a “super hard grind.”
Potential customers that may have an interest in the car can follow this link over to Tesla’s online store to learn more about the Tesla Mode 3 price reduction.
TSLA stock was down slightly as of noon Wednesday, but is up 3% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.
