Tesla Price Drops Happen in US, Europe; Up to $20,000 Savings? Here Are Other Details

Massive Tesla price drops are now happening in the U.S. and Europe.

Thanks to these cost adjustments, interested EV buyers can save up to $20,000.

As of writing, the giant automaker is making drastic efforts to enhance its sales, which are affected by slow demands and logistical problems.

One of its main efforts is to reduce EV prices in the United States and Europe.

Tesla Price Drops Happen in US, Europe

According to Engadget's latest report, Tesla decided to decrease the prices of its Model 3, Model Y, and other EV models.

The Tesla Model 3 dropped from $46,990 to $43,990. The Tesla Model Y Long Range also experienced a price decrease.

The 5-seater model dropped from $65,990 to $52,990. This means that the Model Y Long Range is qualified for the $7,500 Federal Tax credit in the United States.

If you compute the overall price decrease of the Model Y Long Range, you can save up to $20,500.

"This should really boost 2023 (Tesla) volumes. It's the right move," said Gary Black, a Tesla investor, via Reuters.

Germany Tesla Price Drops

• Model 3 Rear Wheel Drive (12% less)
• Model 3 Long Range (9% less)
• Model 3 Performance (4% less)
• Model Y Rear Wheel Drive (17% less)
• Model Y Long Range (4% less)
• Model U Performance (1% less)

U.S. Tesla Price Drops

• Model 3 Rear Wheel Drive (6% less)
• Model 3 Performance (14% less)
• Model Y Long Range (20% less)
• Model U Performance (19% less)

Getting the $7,500 Tax Credit

If you want to purchase the Tesla Model Y Long Range, you need to order the EV unit before mid-March.

This will allow you to get the $7,500 EV tax credit, saving an overall $20,500.

Once the Model Y Long Range returns to its price or increases its cost over the $55,000 mark, it will no longer qualify for the EV tax credit.

If you want to learn more about the latest Tesla price cuts in the U.S. and Europe, you can click this link.

Because of Tesla EVs' popularity, the electric car brand was able to beat other competitors.

Recently, the Tesla Model 3 was able to dethrone the Toyota Camry as Australia's best-selling car.

Tesla also became the top luxury car brand in the U.S. in 2022, beating BMW.

For more news updates about Tesla and other giant automakers, keep your tabs open here at TechTimes.