Tesla Drops the Price on its Best-Selling Models - Again

­Tesla is aggressively pricing its workhorse vehicles, though probably not for the reason you think.

To wit – the EV company is dropping the price of the Model Y and Model 3 vehicles by as much as $2,250.

The Model Y Long Range and Model Y Performance are going down by $2K apiece, while the Model 3 (Teslas best-selling model) is dropping by $1,250 for the Model 3 Rear-wheel drive (RWD) and Long Range versions and $2,250 for the Performance iteration.

As Tech Radar points out, factoring in state, local, or regional tax credits, as well as the $7,500 federal credit, could easily allow you to secure a Model 3 for under $30,000.

Good news for prospective buyers, but aggressive price cuts like this can annoy existing customers – not just because they might’ve recently paid more, but it also immediately devalues their vehicles on the secondary market (and cars are already one of the worst investments you can make).

Either way, the price cuts definitely aren’t the result of poor sales. While the company fell short of some analysts’ predictions of 461,000 vehicles from the July-September period, vehicle deliveries did shoot up 27% from the same time last year.

Tesla may have indirectly benefited from a labor strike effecting GM, Ford and Stellantis plants, but EVs in general are surging.

CNN points out that Americans bought more electric vehicles in the second quarter than in all of 2019, with nearly 300,000 EVs sold from April to June 2023. Across the pond, the UK EV market rose by 18.9% in September.

Part of that can definitely be attributed to federal and state mandates, which are forcibly retiring the internal combustion engine and all but requiring a switch to hybrids and EVs. But alternative energy vehicles have also been out long enough that they’re gaining a foothold organically.

Whatever the case, there’s never been a better time to buy a Tesla.