You Can Finally Order Tesla's New Model 3 In America: What It Costs And How To Unlock A $7,500 Discount

Tesla Inc.‘s TSLA new Model 3 is now available for purchase in the North American market, for the same price as the older version. 

What Happened: The starting price for the rear-wheel-drive Model 3 is $38,990, and the Long Range version begins at $45,990. The estimated ranges for these models are 272 miles and 341 miles, respectively, with the new Long Range trim offering an additional 8 miles of range compared to the older version.

Notably, the Performance variant is currently not listed on the website.

Why It Matters: The introduction of the new Model 3 comes without any change in pricing; however, the vehicle is no longer eligible for the federal EV tax credit of $7,500. 

There is an alternative incentive for leasing the Model 3, where customers can avail of a $7,500 EV lease incentive distributed over a 24-month or 36-month lease term.

Tesla initially launched the refreshed Model 3 in China in late August, albeit at a higher price than the older model. 

During the third-quarter earnings call last year, Tesla did not disclose the release timeline for the Model 3 Highland’s U.S. launch and refrained from addressing product-related questions during the call.

It’s worth mentioning that all versions of the Model Y — the bestselling EV of all time — remain eligible for the federal tax credit, making the Model Y rear-wheel-drive and long-range versions more cost-effective than their Model 3 counterparts after the tax credit.

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