Tesla Reduces New Inventory Prices, Model 3 Now Starts At $37,940

After the tax credit, a new Model 3 can be yours for just over $30,000.

By: Ben O'Hare

Jul 22, 2023 at 12:52pm ET

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Tesla has applied further discounts to its new inventory Model 3 and Y stock. It's now possible to get a Model 3 with zero miles on the odometer for as little as $37,940. Model 3 discounts range from several hundred dollars to over $5,000. Meanwhile, Model Y discounts are less significant (up to $2,770) and mostly apply to Performance variants.

That said, the key takeaway is that you can now obtain a new Model 3 for only $30,440 - provided you are eligible for the full $7,500 tax credit. Once delivery and order fees are factored in, that works out to a purchase price of $32,080.

When the "off-the-menu" Model 3 Standard Range was offered for $35,000 no Tesla vehicles were eligible for any form of federal tax credit. However, that all changed last year with the introduction of new rules. Hence with the tax credit accounted for, it has never been cheaper to buy a new Model 3 than right now.

Clearly, Tesla is trying to get rid of as much existing Model 3 inventory as possible before the new version launches later this year. The heavily revised Model 3 was seemingly leaked back in April. That leak was then confirmed by a trusted source "with some relation" to Tesla.

The Model 3 has been on sale for six years so a refresh is definitely due. Expect a Model Y update to follow soon after, given it shares so much in common with the 3. The new Model 3 will reportedly be revealed in Q3 2023 and production should begin soon after. However, as is often the case with Tesla delays could occur.

Source: Drive Tesla Canada