Tesla's Model 3 could cost $25,000 or less after incentives
02-11-2016, 05:50 AM
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Tesla's Model 3 could cost $25,000 or less after incentives
The Tesla Model 3 won't be the first mass-market, long-range electric vehicle to hit the market. That prize goes to the Chevy Bolt. However, the Model 3 could be the least expensive.
Technically, the Model 3 could cost as little as $22,100 after tax incentives in Louisiana. On average, though, most customers will only receive a $2,500 income tax credit from their state after the $7,500 federal income tax credit. Colorado residents are privy to a $6,000 tax credit, for example. Residents of other states, like California, Massachusetts, and Tennessee, however, only get an additional $2,500 off at tax time.
That number is based upon a starting price of $35,000, which was confirmed by Elon Musk on Twitter in September 2015. Subtracting the average tax incentive rate off that price brings the out-of-pocket cost to right around the $25,000 mark. That is, if you don't add any options to it.
Although Tesla will be taking pre-orders after the Model 3 unveiling in March, don't expect to take delivery on one for a little while. Rumor has it, Tesla is only planning to show a bit of the Model 3 — likely just the exterior — in the spring. The rest of the details, including range and optional extras, will follow later in the year and be announced closer to delivery date.
Even if virtually no one will actually get a Model 3 for $25,000, it's still an exciting proposition. Now Musk just has to figure out how to turn a profit at that price.
Technically, the Model 3 could cost as little as $22,100 after tax incentives in Louisiana. On average, though, most customers will only receive a $2,500 income tax credit from their state after the $7,500 federal income tax credit. Colorado residents are privy to a $6,000 tax credit, for example. Residents of other states, like California, Massachusetts, and Tennessee, however, only get an additional $2,500 off at tax time.
That number is based upon a starting price of $35,000, which was confirmed by Elon Musk on Twitter in September 2015. Subtracting the average tax incentive rate off that price brings the out-of-pocket cost to right around the $25,000 mark. That is, if you don't add any options to it.
Although Tesla will be taking pre-orders after the Model 3 unveiling in March, don't expect to take delivery on one for a little while. Rumor has it, Tesla is only planning to show a bit of the Model 3 — likely just the exterior — in the spring. The rest of the details, including range and optional extras, will follow later in the year and be announced closer to delivery date.
Even if virtually no one will actually get a Model 3 for $25,000, it's still an exciting proposition. Now Musk just has to figure out how to turn a profit at that price.
http://mashable.com/2016/02/09/tesla...k#AkNTkRgLGSq6
If they start building more cars in this price range, I think automakers should be very concerned. Not to mention, if these things end up being on the roads everywhere, oil companies will not be very happy as well.
