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Discussion: Model 3 Price reductions - Jan / April / Oct 2023 and all other pricing discussions
- Thread starter mpgxsvcd
- Start date
mknmike
Member
So Black Friday seems to have “came and went” this year with no changes to the M3 pricing beyond what already happened the week leading up. US inventory posted on Tesla-info is down (Sunday) to ~1900 which is not so bad for a weekend with Thanksgiving in/near it. Perhaps inventory will shoot back up, but it is notably off from the 11/20/2023 peak that came after Q4 inventory being generally low all quarter. The only explanation for that low inventory seems to maybe be highland versions being snatched up overseas and perhaps retooling for Highland in the US or maybe other models. 11/30/2023 Cybertruck deliveries are just 4 days away. So I would expect this week to be pretty quiet until Thursday 11/30 and Friday 12/1. It does feel a bit like Tesla could initiate another big drop, especially if they are announcing Highland in the US.
Speaking of Highland, I like the new rear end, cooled seats and higher efficiency all sound like wins, but the new front end and the lack of stalks (now after owning) would be problems for me.
Also on my purchase time (4 days ago), I’m glad that I did it when I did bc I’d be a bit worried with the registration stuff that our “delivery” could have been botched in some way. Our registration docs aren’t showing up for 3 weeks supposedly, I also worry that I might feel like a vehicle with some issues might be forced upon me. There’s a tiny flaw in the paint at the leading edge of the frunk hood and the bumper being a bit higher that I decided to accept myself, but would have felt it was forced upon me at the end of December. I feel confident all should be done in 2023, even permanent tags with the time I purchased. Had I not yet purchased, I’d be waiting to see what happens December 1, and hope for inventory increases this week, hopefully exceeding the 11/20/2023 peak.
Speaking of Highland, I like the new rear end, cooled seats and higher efficiency all sound like wins, but the new front end and the lack of stalks (now after owning) would be problems for me.
Also on my purchase time (4 days ago), I’m glad that I did it when I did bc I’d be a bit worried with the registration stuff that our “delivery” could have been botched in some way. Our registration docs aren’t showing up for 3 weeks supposedly, I also worry that I might feel like a vehicle with some issues might be forced upon me. There’s a tiny flaw in the paint at the leading edge of the frunk hood and the bumper being a bit higher that I decided to accept myself, but would have felt it was forced upon me at the end of December. I feel confident all should be done in 2023, even permanent tags with the time I purchased. Had I not yet purchased, I’d be waiting to see what happens December 1, and hope for inventory increases this week, hopefully exceeding the 11/20/2023 peak.
mknmike
Member
Inventory still appears to be going down, not back up (yet). I wonder if they are holding cars back from inventory before releasing a glut of cars to do a big December push.
667 MS, 484 MX, 1860 M3, 3620 MY
mknmike
Member
less inventory today.
646 MS, 454 MX, 1774 M3, 3753 MY
November is gone from the estimated delivery on ordered vehicles, and I’m wondering when Tesla will switch that to Dec-Jan. That could put a damper on orders if people fear the cars won’t be delivered in 2023. That would be a reason to have ample inventory, yet inventory is still falling.
I think at this point the Federal $7500 incentive is becoming a larger issue than the discounts on inventory. I’m starting to feel strongly that we may be very unlikely to see further discounts. But at the point, if I hadn’t purchased yet, I’d feel confident that the current discounts are not going away and want to see at least what the first week of December brings.
I would not expect Tesla to do any POS discounts until the second quarter of 2024, maybe even wait for Model 2 announcement and work it out for that model’s debut which I believe will be aimed at consumers that will need the POS help more.
646 MS, 454 MX, 1774 M3, 3753 MY
November is gone from the estimated delivery on ordered vehicles, and I’m wondering when Tesla will switch that to Dec-Jan. That could put a damper on orders if people fear the cars won’t be delivered in 2023. That would be a reason to have ample inventory, yet inventory is still falling.
I think at this point the Federal $7500 incentive is becoming a larger issue than the discounts on inventory. I’m starting to feel strongly that we may be very unlikely to see further discounts. But at the point, if I hadn’t purchased yet, I’d feel confident that the current discounts are not going away and want to see at least what the first week of December brings.
I would not expect Tesla to do any POS discounts until the second quarter of 2024, maybe even wait for Model 2 announcement and work it out for that model’s debut which I believe will be aimed at consumers that will need the POS help more.
As of this week, the Biden administration has discussed granting automakers a temporary reprieve from new rules poised to limit a consumer tax credit for electric vehicles that contain certain materials from foreign adversaries. We may actually see the $7,500 POS happen for the Model 3 RWD beginning 1/1/2024. Time will tell, but I imagine we will get clarity over the next 30 days.
I think I also managed to buy my LR at the bottom for local inventory a couple of weeks ago and couldn’t be happier about it. The big picture is useful to know, but I think ultimately it is as simple as whether the inventory visible in your area is staying available and unsold (in which case it may go down one more tick) or not. I bought immediately when I saw the price of the exact configuration I wanted had gone down another $500 at the exact place I wanted to pick it up from the best price since I started thinking about it - around a 7% discount. Since then, I‘ve continued to check just out of curiosity and haven’t seen anything close to that in price or really even much inventory available at all in that configuration. If you’re looking at standard RWD that seems to be a different story, though.
So I’m a new member and here I am sitting on the fence as to buy now or wait. Based on what’s happened in the past, are we likely to see some better year end push on referrals or prices? I sadly live in middle America and the nearest supercharges are 25 miles away so that perk does zero for me. Im planning on buying but whether I buy new or not will depend on what offers are coming. I’m not in a hurry for a car purchase but I’m open to a good deal on a car I’d like to own.
No doubt; Elon Musk is a genius; Took all my money and now my 2022 is worth 1/2 the price of what I paidTesla has reduced Model Y and Model 3 prices DRASTICALLY. Now several models will qualify for the $7,500 tax incentive until at least March.
Here is a picture of the price reductions.
View attachment 895084
It is important to note which cars will now qualify for the tax credits and which won’t.
Model 3 RWD qualifies for the Tax credit until March. The effective price for a no option Model 3 RWD should now be about $36,500 after the tax credit.
Model 3 LR should qualify for the tax credit. However, you can’t configure it on the site. You will have to find one already built but not sold to get one.
Model 3 Performance is under the $55k cap now. However, it is not listed on the government website as being eligible. The Tesla website explicitly says it qualifies right now but this may be incorrect. You might find that when you file your tax return in 2024 they deny it because it is not listed as being eligible with the government.
Credits for new clean vehicles purchased in 2023 or after | Internal Revenue Service
You may qualify for a clean vehicle tax credit up to $7,500 if you buy a new, qualified plug-in electric vehicle or fuel cell electric vehicle.www.irs.gov
Model Y LR now qualifies. The effective price for it is now about $45,490 after tax credits.
Resell values have been OBLITERATED! These cars are essentially worthless on the resell market now.
This really is a monumental shift in pricing for Tesla. They were already dominating the market and this can only strengthen their lead.
None of the Model Y Performance cars will qualify for the tax credits but that price is now less than I paid for my 2022 Model 3 Performance($59k).
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(moderator note: In model 3 subforum this will be THE thread on this topic. All discussion on this price cut in this subforum will be moved in to this thread, so there will not be multiples of this topic in this subforum)
Soon they’ll be the same price as a Camry and Accord.
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There will be greater incentives towards the end of the year, OR there will be another $3750 in incentives (or close to that) NEXT YEAR, assuming they do truly lose access to half the $7500 tax credit for the M3 AWD and LR.
mknmike
Member
If interested in a model 3, you need to decide whether you want the new improved highland version next year and to consider what the lack of gear shift and turn signal stalks will do to your driving experience and whether the $7500 incentive this year vs $3750 next year (supposedly) means to YOU. And does your state offer incentives too? Do they change? Do you need to REGISTER your car before the end of the year for a state incentive? For me, I decided 2023 incentives were a must, and was glad to end my hourly deal checks on Tesla.com and Tesla-info.com
I can’t imagine how much more difficult it would be to try and buy used where it’s less a commodity and more unique details to investigate, and lose the government incentives too.
I’m glad to have my shopping over and not be obsessed and distracted by a car purchase during the end of year holidays. I imagine I would ruin the holidays for the whole family. Buying early let’s everyone enjoy the best parts of new-car ownership during these holidays. Paperwork and shopping stress is over. After two weeks starting to feel like I know the car more and how and where and when to charge it. Still has the new car smell and feel. My wife even said tonight that she doesn’t even mind the thought of driving the kids to the doctor’s office tonight because she’s starting to enjoy driving the car so much. And she wanted to sit up high like she did in her SUVs for so many years. There’s just so much progress here to enjoy over the holidays having the deal done.
Currently discounts appear to be 7.5%, and for a model 3, that’s after a recent $1000 list price reduction. Some think we might get deeper discounts, but I’m reading more and more about the thinning margins that Tesla is struggling with. I watch the inventories on Tesla-info and Q4 inventory hit a peak and has been falling. Maybe because cars are selling so fast since they reintroduced discounts. BYD is increasing their margins and scheduled to overtake Tesla as the largest EV maker. I feel like this is just the best time to buy while the government money is there AND Tesla is struggling to keep its title as the Largest EV maker. Even at higher prices, I think their cars would sell equally well here in the US. What other EVs can you consider in these price ranges of the 3 and Y? Mustang with only $3750 federal incentive? VW? Audi with no incentive? I feel like it’s a great time for people who qualify for incentives to get a great deal. If you don’t qualify for incentives, take your time and shop around. You can buy used and have a much larger variety to choose from.
For those of us M3 RWD buyers who qualify and have state incentives are getting a hack of a lot of car for under $30k in my opinion. I hope to enjoy it for decades to come (like I do with other vehicles).
If you are really not in a hurry, I would suggest waiting until the new models/refresh's arrive and also give some time for those to settle in a bit (since early iterations usually have some bugs which are ironed out in the first or second quarter). Prices will most likely stabilize and you will have all the latest upgrades. Just my 2 cents.
Tesla has updated the website to state that both the Model 3 RWD AND the Model 3 LR will both only qualify for $3,750 of the tax credit starting at the beginning of next year. The same statement does not appear for any of the Model Y vehicles.
Leases still get the full $7,500 tax credit for ALL Tesla vehicles regardless of price or the buyer's income. That should continue on through next year but Tesla could decide to change that at any moment. It is totally up to them.
Here is what it said last month.
Here is what it says now.
Leases still get the full $7,500 tax credit for ALL Tesla vehicles regardless of price or the buyer's income. That should continue on through next year but Tesla could decide to change that at any moment. It is totally up to them.
Here is what it said last month.
Here is what it says now.
Thank you all for the input. I’ve considered some other vehicles and ICE vehicles. I used to be a hard core Honda guy but when the dealers won’t budge on price and the M3RWD is the same price as an Accord and less than a Camry after the tax program, it’s hard to ignore Tesla. Unfortunately WV has no state vehicle rebates unless I buy a coal fired steamship or a train. I can’t even buy one here. I have to go to PA. If they do something else before the start of the year or change to a better referral perk, I’ll buy this year. I think the M3 is pretty nice as it is. I’m primarily going to use it as a commuter vehicle. I drive about 24k miles per year.
My guess is that the Model 3 will be many thousands more starting on January 1st unless you want to lease it. I honestly think prices won't come down significantly from where they are right now.
If it helps, Road & Track did one of their road tests on the Gresley A3 Pacific type 3-cylinder Locomotive. It had some respectable stats, though I am not sure what rebates are available.
GRESLEY A3 PACIFIC AT A GLANCE
List price, new......................…..........$40,000
Engine.………………………..................3-cyl, double-acting, coal-fired
Curb weight, Ib. ...................…........350,000
Top speed, mph..........................…..110
Acceleration, 0-60 mph, sec........397.2
50-70 mph....................……..............121.1
Average fuel consumption..........50 mi/ton
Thanks, sadly it won’t qualify. I telegraphed the WV DMV and found out that under the WV Strip Mine, Car Dealership, and Pepperoni Roll protection act of 1908 it has to be bought in state from a government official’s relative, while eating a pepperoni roll, at a car dealership, including paying for a doc fee, seat protection treatment, and a minimum of one pin stripe. Also has to get no more than 40 miles per ton of coal. On the positive, they did say that even though I can’t buy a fancy new Tesla in WV, they would be happy to collect the sales tax and $200 in extra road taxes at registration to make up for the tax I won’t be paying on a new coal fired car. But…nope not a penny in rebates. I can’t even get a dang thermostat discounted from a utility company!
Highland will be out then. It will be a slightly higher price but there won’t be any inventory discounts and the tax credit will be lower with a purchase.
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