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Tesla Model 3 and Model Y - Cheapest EVs
Tesla is selling the cheapest sedan that is an EV in the United States now after the Model 3 RWD (standard range) was reduced in price to $39,990. The Model 3 RWD has 272 miles of range and has an LFP battery made in China by CATL. It gets a $3,750 tax credit in the U.S. that used to be $7,500. It was reduced because the battery is from China and the U.S. doesn't have a free trade agreement with China.
The Tesla Model Y standard range is also nearly the cheapest SUV EV in the U.S., being about $500 cheaper than the VW ID4 standard range. However, the VW ID4 standard range only has 209 miles of range and goes 0-60 mph in 7.8 seconds, and it costs $38,995 as a net price after the $7,500 tax credit. The Model Y standard range costs $39,490 after the tax credit and has 279 miles of range and goes 0-60 mph in 5 seconds.
For a mere $500 more, there is superior range, performance, software, safety, and more in the Model Y standard range. The Chevy Bolt EUV LT is still the cheapest EV in the U.S., costing just $21,295 after the $7,500 tax credit. It has 247 miles of range and goes 0-60 mph in 7 seconds. However, that comes without the software, safety, and performance that a Tesla gets.
The Tesla Model Y long range is $42,490 after the tax credit now and is still among the cheapest SUVs that is an EV in the U.S. that one can buy. It has 330 miles of range and goes 0-60 mph in 4.8 seconds. You can see more in the below Tweet:
Tesla now offers the cheapest EV sedan in the United States in the Model 3 standard after EV Tax credits, and the 2nd cheapest (by $1k) SUV in the Model Y standard. $TSLA pic.twitter.com/c0eTR30g95— Farzad Mesbahi (@farzyness) April 19, 2023
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Will They Stay the Cheapest?
I think it is an inevitability that the Model 3 RWD (standard range) goes down in price even more. It is by far the cheapest EV sedan in the U.S. with the Model 3 performance being the next available option at $45,490 net price after the $7,500 tax credit.
Most of the EVs sold in the U.S. are an SUV as that is a popular choice for those living in the U.S. due to having extra space to transport more people, belongings, and pets. The highest range SUV in the U.S. is the Model Y long range and the highest range sedan is the Model 3 Performance with 315 miles of range.
Tesla will eventually produce a compact car and I believe this car will sell for around $25,000 when it comes to the U.S. and have around 250 miles of range. The range could be higher because it is released in a couple more years and battery technology will probably improve by then.
It's interesting that in last place for the SUV category is the Ford Mach-E GT P ER AWS. That is a mouthful to say, but it is the performance version of the Ford Mach-E, and it has 260 miles of range, goes 0-60 mph in 3.5 seconds, and costs $66,245 after the $7,500 U.S. tax credit. This is nowhere near the Model Y performance, which has 303 miles of range, goes 0-60 mph in 3.1 seconds and costs $46,490 after the $7,500 U.S. tax credit.
How can Ford sell a car $20,000 more than a better vehicle? Ford will HAVE to reduce its prices. Tesla will also keep reducing its prices and if the price of materials and battery minerals keeps going down, Tesla will still be very profitable.
What do you think about the Model 3 and Model Y being among the cheapest sedan and SUV vehicles in the U.S.? Would you get a Tesla?
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.
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