Tesla knocks $1,100 off price of the Model 3

Tesla Starts Selling the Cheaper Model 3 in China 1

All variants of the Model 3 will now start at $1,100 less, with the tradeoff being the end of the customer referral program. The price cut does not quite offset the disappearance of the tax credit for Tesla buyers, but it does offer a partial redress for it.

The federal electric vehicle tax credit, which lowers the cost of a Tesla, dropped to $3,750 in January and will be halved again this summer before disappearing completely in 2020.

A Tesla Model 3 is displayed during a media preview at the Auto China 2018 motor show in Beijing on April 25, 2018.

In an effort to lower the price of the auto, Musk, who is also the founder of rocket company SpaceX, has slashed more than 3,000 jobs and ended a customer referral program.

In Colorado, drivers travelling an average of 12,000 miles (a conservative value that is less than the state's average 13,443 annual miles) and accessing the state's $US5,000 incentive can essentially buy the mid-range Model 3 for under $US30,000 ($A42,220).

Tesla continues to display pricing in a creative manner. "It's just like people literally don't have the money to buy the vehicle", Musk during the company's earnings call last week.

The starting cost of the Model 3 is now about $35,000, after about $8,000 of credits and fuel savings, Tesla Chief Executive Officer Elon Musk tweeted.

Tesla is cutting US$1,100 from the base price of its auto designed for the mass market, the Model 3.

Tesla said in a statement that ending the costly referral program allowed it to cut the Model 3 price.



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