![\"\"](\"https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/WhatsApp-Image-2023-05-14-at-9.02.42-AM-300x133.jpeg\")
<\/p>\nPickup trucks still dominate vehicle sales in the United States, but\u00a0electric vehicle manufacturer Tesla\u00a0has cracked the top 10 for the first time. Tesla\u2019s Model Y crossover was the sixth best-selling vehicle in the U.S. in 2022, but it might soon have internal competition from the company\u2019s Model 3,\u00a0which now has a sticker price starting below $40,000.<\/p>\n
<\/p>\n
The Model 3 \u2014 a four-door sedan with rear-wheel drive \u2014 is already popular and is the least expensive model in Tesla\u2019s line. As reported by CNBC, it currently sits at 13th place in 2022 vehicle sales at 211,641 units, per\u00a0Motor Intelligence\u00a0data.<\/p>\n
Cutting $2,000 off the Model 3, it has a base cost of $39,990, making it a relative \u201cbargain\u201d among EVs. This is true even though it is still more expensive than many hybrid plug-ins and 2023 EV models, like the Chevy Bolt EUV, the Mazda MX-30, the Hyundai Kona Electric, and the Kia Nero EV, per Edmund’s rankings.<\/p>\n
However, the Model 3 is now less than the average price of a new car, making it a more affordable option for consumers looking to switch over to an electric vehicle. Back in February, when the Model 3 was priced at $42,990, Bloomberg reported that it was selling for $4,930 less than the average new American vehicle.<\/p>\n
This is the sixth time Tesla has cut prices on its electric vehicles this year, and the second time this month. As CNN reported, the decision to lower prices and ensure lower short-term profits were necessary, according to CEO Elon Musk.<\/p>\n
\u201cWhile we reduced prices considerably in early Q1, it\u2019s worth noting that our operating margin remains among the best in the industry,\u201d Musk said. \u201cWe\u2019ve taken a view that pushing for higher volumes and a larger fleet is the right choice here versus a lower volume and higher margins.\u201d<\/p>\n
Unfortunately for existing and future Model 3 owners, the price cuts, which were announced prior to the company\u2019s first-quarter earnings report of April 19, coincide with the reductions in EV credits imposed by the U.S. Treasury which went into effect April 18. Credits for the Model 3 have been slashed to $3,750, but all other Tesla models will still be eligible for the full $7,500 credit as mandated by the Inflation Reduction Act.<\/p>\n
According to Engadget, Tesla also cut the price on the consumer’s favorite Model Y. The base, Long Range, and Performance Model Y vehicles have been trimmed by $3,000 and now cost $46,990, $49,990, and $53,990, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pickup trucks still dominate vehicle sales in the United States, but\u00a0electric vehicle manufacturer Tesla\u00a0has cracked<\/p>\n","protected":false},"author":1,"featured_media":23957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,1],"tags":[],"aioseo_notices":[],"jetpack_sharing_enabled":true,"featured_image_urls":{"full":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2.jpg",1200,640,false],"thumbnail":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2-150x150.jpg",150,150,true],"medium":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2-300x160.jpg",300,160,true],"medium_large":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2-768x410.jpg",640,342,true],"large":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2-1024x546.jpg",640,341,true],"1536x1536":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2.jpg",1200,640,false],"2048x2048":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2.jpg",1200,640,false],"chromenews-featured":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2.jpg",1024,546,false],"chromenews-large":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2.jpg",825,440,false],"chromenews-medium":["https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2.jpg",590,315,false]},"author_info":{"display_name":"nkyeremunews","author_link":"https:\/\/nkyeremunews.com\/index.php\/author\/nkyeremunews\/"},"category_info":"Automobile<\/a> Nkyeremu<\/a>","tag_info":"Nkyeremu","comment_count":"12","jetpack_featured_media_url":"https:\/\/nkyeremunews.com\/wp-content\/uploads\/2023\/05\/BeFunky-collage-81-2.jpg","_links":{"self":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/posts\/23953"}],"collection":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/comments?post=23953"}],"version-history":[{"count":0,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/posts\/23953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/media\/23957"}],"wp:attachment":[{"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/media?parent=23953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/categories?post=23953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nkyeremunews.com\/index.php\/wp-json\/wp\/v2\/tags?post=23953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}