{"id":18986,"date":"2023-10-13T05:14:45","date_gmt":"2023-10-13T10:14:45","guid":{"rendered":"https:\/\/ustower.net\/?p=18986"},"modified":"2023-10-13T05:14:49","modified_gmt":"2023-10-13T10:14:49","slug":"tesla-keeps-chopping-prices-making-its-cars-cheaper-than-even-gas-competitors","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=18986","title":{"rendered":"Tesla keeps chopping prices, making its cars cheaper than even gas competitors"},"content":{"rendered":"\n

Tesla’s latest price cuts are continuing to blow even its gas competitors out of the water.
Last month,\u00a0new cars saw an average transaction price (ATP) of $47,899, according to Kelley Blue Book. New car prices have slowly but surely been improving as of late, but are still pretty costly.
But with Tesla’s most recent price cuts, the base-level Model 3 sedan is now priced at a significantly lower $38,990. The\u2002cheapest Model Y SUV is now going for $43,990. After the $7,500 federal tax credit, the Model 3 comes out to $31,490 while the Model Y could go for $36,490 \u2014 not to mention a slew of possible state incentives.
Both are a whopping several thousand dollars less than the average vehicle.
It’s important to note the nuance here: List prices might differ slightly from the average price vehicles actually sell for, especially as\u00a0manufacturer incentives average about 4%, according to data from Cox Automotive.
In Tesla’s case, the trim level options could bring its average up or down, but its sticker prices are essentially its transaction prices. Just last month, the Model 3 saw an ATP of $41,484 \u2014 still substantially below the overall average \u2014 while the Model Y transacted, on average, for $53,069 (above the average, but relatively close), according to Kelley Blue Book. Those will likely shift with the latest cuts.
Tesla vehicles overall saw a $50,931 ATP \u2014\u00a0a number driven up by its more costly Model S and Model X, but down almost 25% from a year earlier. That means Tesla ATPs as a whole are now lower than\u00a0luxury competitors Acura, Lexus, Infiniti, and Volvo, Kelley Blue Book said.
Tesla pricing journey
Vehicle pricing has dominated headlines\u00a0in recent years. The\u00a0pandemic sent new\u00a0and\u00a0used vehicle prices\u00a0soaring for months on end. Just now are car shoppers\u00a0starting to see small signs of respite, though\u00a0it’s hard to say if those signals will last.
To be sure, new car pricing is relatively flat year-over-year (down just $360 from September last year), while\u00a0used car pricing is more nuanced. Certainly, the\u00a0ongoing UAW strikes\u00a0could\u00a0eventually have an impact on the market\u00a0and\u00a0upend any pricing (and inventory) progress\u00a0the industry’s been able to make this year.
EV prices, in particular, have been up for debate. An EV changed hands for $50,683 on average last month \u2014 down from a whopping $65,000 just a year earlier.
Tesla is largely to credit for that 22% decline\u00a0in EV prices overall. There are less expensive EVs on the market, but much of the new electric product thus far has been geared toward higher-end buyers.
The company’s price cuts have been an effort to stoke demand as it sees incremental drops in market share as more electric competition enters the market. Tesla’s\u00a0third-quarter production and deliveries dropped\u00a0after record numbers over the previous few quarters.
businessinsider<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tesla’s latest price cuts are continuing to blow even its gas competitors out of the water.Last month,\u00a0new cars saw an average transaction price (ATP) of $47,899, according to Kelley Blue Book. New car prices have slowly but surely been improving as of late, but are still pretty costly.But with Tesla’s most recent price cuts, the […]<\/p>\n","protected":false},"author":5,"featured_media":18987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1154],"tags":[23325,23326,1362],"class_list":["post-18986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-gasoline-rivals","tag-keeps-cutting-prices","tag-tesla"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/18986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18986"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/18986\/revisions"}],"predecessor-version":[{"id":18988,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/18986\/revisions\/18988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/18987"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}