Moreover, some of the price cuts now qualify the cars for those tax breaks in the first place.on Friday stressed the significance of these cuts and said they may have profound effects not just on Tesla’s brand but on the increasingly competitive EV game. Some even said this could be the first shot in a looming EV “price war,” even as automakers struggle to source enough materials to put these cars on the road en masse.
Prospective Tesla customers will likely be very happy with Thursday’s news. The Model 3 Performance, for example, dropped from nearly $63,000 to $54,000 before any tax credits. The Model Y Performance has gone down from nearly $70,000 to about $57,000, also before the tax credits.
In the U.S., the move was also timed to coincide with EV tax credit changes under the Inflation Reduction Act. That legislation incentivizes tax breaks for EVs assembled in North America, as well as batteries assembled here as well.
RIP Tesla.
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