Tesla drops mid-range Model 3 price, again

Elon Musk Tesla

All variants of the Model 3 will now start at $1,100 less, with the tradeoff being the end of the customer referral program. With those included, Tesla says, the price is $34,850.

In a reply to a Twitter user asking about when Tesla would drop the Model 3 base price to $35,000, without credits, Musk said, "We're doing everything we can to get there.

The price drop is another in a series of reductions made by the EV maker, the last of which occurred in the new year when Tesla's United States federal tax credit was reduced by half from $US7,500 to $US3,750.

Tesla continues to display pricing in a creative manner.

Tesla Inc said on Wednesday it was lowering the price of its Model 3 sedan for the second time this year, moves that come in the wake of Tesla losing a tax credit that made its cars more affordable for USA buyers.

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Ahead of the debut of several direct competitors and the disappearance of the $7,500 tax credit, the automaker has made fielding cheaper versions of the Model 3 a priority, in addition to driving down production costs.

In a statement to FOX Business, a spokesperson for the electric-car maker attributed the price cut to the ending of the referral program, "which cost far more than we realized".

"I want to be a broken record about this: It's cost, cost, cost, cost", the CEO said during Tesla's earnings call last week.

"Model 3 starting cost now ~$35k (after ~$8k of credits & fuel savings)", Musk tweeted on Wednesday. The upcoming model will be.

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