Another Price Reduction for Model Y

Beginning of a new quarter and Tesla has reduced prices for Model 3 and Model Y (again). The Long Range Model Y is $2,000 cheaper and now costs $48,490 (before it was $50,490). Again, with a potential IRA federal tax credit of $7,500 this gets close to $40k for a medium sized luxury SUV. Tesla also introduced a new RWD (rear wheel drive) Model Y with 270 miles of range for $43,990. With the tax credit this moves towards $35k. Prices were also reduced for the Model 3.

Well, just like many others, I bought my Model Y at a higher price a while back. But I consider this as something that was expected. For one, Tesla tries to make the cars cheaper so that more people can afford an EV, and second, new technology (remember iPhone) is first more expensive with prices coming down over time. Well, Apple seems to go the other way now, since more phones cost close to $1,000, but that is a different story. So, since I have bought my Model Y for the long-term (10 years) I don't worry too much about this price reductions. You can also argue that I already saved some money (no expensive gas, no maintenance, etc.) by buying it earlier. I think we need to go electric and as an early adopter (supporting the cause) you sometime pay a little more to "do the right thing".

With that said, now is the best time to buy a Tesla, and also, next quarter is also the best time to buy a Tesla. Nobody knows when to buy because the prices will most likely further go down, but maybe they will go up again if there is more demand and the other automobile companies (Ford, GM, etc) cannot produce enough EVs - as we currently see. So, if you are interested and ready to buy now, you should use a referral code (from a friend or family) to safe another $250 on your Tesla (or you can use my referral code if you don't know anybody with a code).

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