Tesla owned by Elon Musk With its stock down more than 60%, has substantially reduced the costs of all of its EVs in the US and europe in an effort to increase sales. According to Engadget, the Model 3 RWD, the least cost EV, has lowered in price from $46,990 to $43,990. In addition, the cost of the five-seat Model Y Long Range dropped by 20%, from $65,990 to $52,990. As a result, the latter model is now qualified for the $7,500 US Federal Tax Credit, resulting in a $20,500 (more than 30%) final price decrease.

Other models also had their prices reduced, such as the performance Model 3 and Model Y as well as the standard and plaid Model S and Model X. However, the cost of the Model Y's 7-seat variant has increased by $1,000 to $4,000 instead. Prices for the Model 3 and Model Y were reduced by one to 17 percent in Germany, as well as in Austria, Switzerland, and France. To obtain the full $7,500, customers must place their orders before mid-March, when it is anticipated that the rebate would be cut in half.

According to the article, vehicles under $55,000 and SUVs under $80,000 are eligible for tax breaks.


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