Could a price cut be coming to the Tesla Model Y and Model 3?
Tesla’s been in the hot seat lately, possibly because of its founders’ actions on social media, but more pressingly so, the Model 3 and Model Y have experienced reduced demand in China. China, one of the brand’s biggest markets has had several price cuts on the Model 3 and Model Y, leading some to ask “will North America get a price cut?” According to a source at Electrek, the answer is “maybe.”
According to a source that’s reported to Eletrek, the Model 3 and Model Y are about to get a $3,750 price adjustment for cars delivered in December. There’s some speculation that the brand wants to incentivize customers holding off waiting for the new tax credit rules to take effect. Tesla would rather them buy the car today, rather than wait until January 1.
If true, a base Model 3 single motor, standard range would clock in at $43,240. A base Model Y would be $62,240.
In China, Tesla has faced increasing competition, as the homegrown China-domestic market brands have gained the ability to create well-made EVs. The Model 3 and Model Y have stiff competition from brands like Nio, Polestar, Neta, Leapmotor, and many, many others. Similarly, the Model Y and Model 3 aren’t alone in North America, GM, Ford, Honda and more have EVs in the wings, and soon, the Model 3 and Model Y may not be as competitive as they once were.
At least, not as competitive, without a price cut.
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