{"id":241311,"date":"2023-10-09T19:19:44","date_gmt":"2023-10-09T19:19:44","guid":{"rendered":"https:\/\/automotobuzz.com\/?p=241311"},"modified":"2023-10-09T19:19:44","modified_gmt":"2023-10-09T19:19:44","slug":"tesla-prices-fall-below-average-us-car-costs-model-3-on-par-with-toyota-corolla","status":"publish","type":"post","link":"https:\/\/automotobuzz.com\/electric-cars\/tesla-prices-fall-below-average-us-car-costs-model-3-on-par-with-toyota-corolla\/","title":{"rendered":"Tesla Prices Fall Below Average US Car Costs, Model 3 On Par With Toyota Corolla"},"content":{"rendered":"

The Tesla Model 3 and Model Y, the brand\u2019s highest-selling electric cars globally, cost less than the average transaction price for a car in the US, according to a new report. Bloomberg<\/em> stated that the price war might cost the company $1.2 billion a year, but the trade-off is price parity with gas cars and trucks.<\/p>\n

The entry-level rear-wheel-drive Tesla Model 3 costs $38,990 before taxes and additional fees, $8,700 lower than the average price of a car or truck in the US, as per the report. The Model 3 now costs $6,500 less than the entry-level BMW 3 Series, and $5,800 less than the base Mercedes-Benz C-Class.<\/p>\n

That\u2019s before factoring in the $7,500 federal tax credit and state incentives. After applying the federal tax credit and fuel savings, the Model 3\u2019s cost of ownership is on par with a Toyota Corolla, claims the report.<\/p>\n

Let\u2019s see if this claim holds up. According to the EPA, the average annual gas cost of a 2023 Toyota Corolla is $1,650. The entry variant\u2019s MSRP is $21,900. Based purely on gas prices and base MSRP, excluding maintenance and other expenses, the Corolla\u2019s ownership cost over three years would be roughly $26,850.<\/p>\n

The Model 3\u2019s price estimates for New York are in a similar ballpark, according to Tesla. The brand estimates $3,000 in gas savings over three years, and after factoring in the $7,500 federal tax credit, along with an additional $2,000 New York State credit, the Model 3 would probably cost around $26,490, before taxes and fees.<\/p>\n

Note that the figures will vary regionally, and these estimates are conservative as they don\u2019t factor in maintenance costs, sales tax, and other fees. But the claims of price parity are arguably not exaggerated.<\/p>\n

With multiple affordable rival EVs in the pipeline \u2013 like the upcoming Chevrolet Equinox EV and the Volvo EX30 among others \u2013 Tesla\u2019s price strategy in the coming months will be worth keeping an eye on.<\/p>\n

Tesla\u2019s Q3 2023 sales were down by roughly 30,000 units compared to the previous quarter due to factory downtime, with 435,059 deliveries worldwide between July and September 2023.<\/p>\n

Source: Bloomberg<\/span> <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Tesla Model 3 and Model Y, the brand\u2019s highest-selling electric cars globally, cost less than the average transaction price<\/p>\n","protected":false},"author":2,"featured_media":241310,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nTesla Prices Fall Below Average US Car Costs, Model 3 On Par With Toyota Corolla - AutoMotoBuzz.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/automotobuzz.com\/electric-cars\/tesla-prices-fall-below-average-us-car-costs-model-3-on-par-with-toyota-corolla\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla Prices Fall Below Average US Car Costs, Model 3 On Par With Toyota Corolla - AutoMotoBuzz.com\" \/>\n<meta property=\"og:description\" content=\"The Tesla Model 3 and Model Y, the brand\u2019s highest-selling electric cars globally, cost less than the average transaction price\" \/>\n<meta property=\"og:url\" content=\"https:\/\/automotobuzz.com\/electric-cars\/tesla-prices-fall-below-average-us-car-costs-model-3-on-par-with-toyota-corolla\/\" \/>\n<meta property=\"og:site_name\" content=\"AutoMotoBuzz.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-09T19:19:44+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/automotobuzz.com\/wp-content\/uploads\/2023\/10\/Tesla-Prices-Fall-Below-Average-US-Car-Costs-Model-3-On-Par-With-Toyota-Corolla.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/automotobuzz.com\/electric-cars\/tesla-prices-fall-below-average-us-car-costs-model-3-on-par-with-toyota-corolla\/\",\"url\":\"https:\/\/automotobuzz.com\/electric-cars\/tesla-prices-fall-below-average-us-car-costs-model-3-on-par-with-toyota-corolla\/\",\"name\":\"Tesla Prices Fall Below Average US Car Costs, Model 3 On Par With Toyota Corolla - 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