Tesla Takes To Twitter To Brag About Model 3's Price Tag After Tax Breaks

In a recent post on Twitter, Tesla Inc TSLA  highlighted the impact of federal tax credits on the starting price of its Model 3, effectively bringing it down to $32,740. The announcement underlines the benefits buyers could take advantage of, including fuel and maintenance savings as well as potential state and local incentives.

Full $7,500 federal tax credit applies to all new Model 3 & Y—meaning Model 3 starts at $32,740

Factor in fuel/maintenance savings & total cost of ownership vs comparable ICE vehicles drops to well below $30k.

If eligible, state & local incentives can drop price as low as $20k… pic.twitter.com/wV2HrpU1fz

— Tesla (@Tesla) June 8, 2023

The significant federal tax credit highlighted by Tesla is a part of the U.S. government's commitment to encourage EV adoption to combat climate change. Buyers who opt for the Model 3 or Model Y can take advantage of the full tax credit, making these models more accessible to a larger market demographic.

Besides the federal tax credit, Tesla also emphasized the lowered total cost of ownership for its electric vehicles. When factoring in fuel and maintenance savings compared to internal combustion engine (ICE) vehicles, the total cost of ownership for a Tesla drops even further.

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Photo courtesy of Tesla