Tesla opens orders for its Model 3 at a lower price

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Vehicle maker Tesla, owned by Elon Musk, has reopened order requests for its cheapest model, the Model 3, after putting them on hold last year due to high demand that ran through 2023.  

The starting price for the unit, according to the brand’s website, will be $47,240, which means a reduction of approximately 19% compared to the last time it was put up for sale.

Tesla has been adjusting the prices of its cars almost every week as raw material costs and competition in key markets like the United States and China shift. 

The also owner of Twitter has been in favor of reducing prices to bet on greater volume, a situation that has not been well received by all investors and that caused greater uncertainty after the profit margin for the first quarter of 2023 registered a drop. reduction. 

On par with the competition

The updated price for the dual-motor, four-wheel-drive edition of the Model 3 Longe Range puts it in a similar range to other electric vehicles like the Kia EV6which currently starts at $48,700. 

Ford’s Mustang Mach-E, another unit Tesla competes with directly, starts at $43,000 after a series of tweaks last week.

Both the Model 3 and Mustang Mach-E are eligible for a $3,750 federal tax credit as part of President Joe Biden’s Reduced Inflation Act.