Tesla Cuts Prices On Model 3 Inventory In The US By Up To $5,500

You can get a brand-new Model 3 RWD for just $37,120 before the federal tax credit.

Photo by: Tesla

By: Dan Mihalascu

Aug 31, 2023 at 8:56am ET

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Tesla has once again cut prices on brand-new Model 3 vehicles in its North America inventory, and this time the discounts come just as the automaker is rumored to unveil the Model 3 refresh – aka Project Highland – on September 1 in China.

Back in June, Tesla applied discounts of up to $2,500 on most of the Model 3 trims and up to $3,040 in the case of the Model 3 Performance range-topper.

However, the new discounts are bigger now, of over $4,100 for the Model 3 RWD and over $5,000 for the Model 3 Long Range, as discovered by Drive Tesla Canada. For example, this Model 3 RWD located in New York City is now listed for $37,120, down from the regular price of $41,240. Factor in the $7,500 federal tax credit, and the Model 3 RWD can be had for under $30,000.

There are also discounts for Model 3 Performance inventory cars – of more than $5,500 in some cases – with this particular example in Beverly Hills, California being $5,520 off at $49,720.

It remains to be seen if these big discounts are a sign that Tesla wants to clear its inventory of existing Model 3 vehicles ahead of the launch of the new Model 3, which Chinese media claim is just around the corner with a reveal set for September 1.

With Gigafactory Shanghai reportedly producing the refreshed Model 3 for over a month now and more frequent sightings of test vehicles in China and some European countries in recent weeks, it looks as though an official announcement is coming soon.

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Most recently, a Tesla Model 3 prototype was spotted in Germany on August 28 with manufacturer plates. The vehicle featured similar camouflage, rear reflectors, and taillights to those found on previous covered-up prototypes spotted in the United States, New Zealand, and China.

As a reminder, the refreshed Tesla Model 3 is expected to feature a redesigned front end, a revised rear with vertical LEDs instead of horizontal, and a tweaked interior that will reportedly include ambient lighting, among other updates.