Tesla Cuts Model 3 Prices To Make Way For New Model

If you're in the market to buy aModel 3we have good news: Tesla has once again cut prices on its available inventory. As discovered byDrive Tesla Canadaon Wednesday evening, prices have been cut across the board on all trims. Vehicles in the New York area are now seeing discounts upwards of $3,300 for Standard Range RWD models, $4,900 for Long Range AWD models, and $5,400 for Performance AWD models.

In other parts of the country, we're even seeing models coming in even cheaper. Take this Standard Range RWD one right outside of Pittsburgh, PA seeing a discount of $4,020 and now starting at a measly $36,220. If you're able to find a deal like this, factoring in the destination fee and $7,500 tax credit only puts you a hair over $30K at $30,110. These deals are so good that they're beating out the ones the companyinstituted earlier this year, meaning now's the time to go Tesla shopping.

Why is Tesla doing this, though? Well, the company has justdebuted the facelifted Model 3that's been seen driving around in China recently. As a result, the company wants to burn through as much existing inventory in the meantime before production starts ramping up for the new and improved vehicles.

We have no doubt these price cuts will help the company move inventory in a big way. After instituting a slew of price cuts earlier this year, Teslaannounced soaring quarter two profitswith a nearly 100% increase in vehicles produced and delivered over the same timeframe the year before. This has made keeping up with orders somewhat harder, and although the company has been able to adapt, there have been hiccups.