Tesla Cuts Model 3 & Y Prices As New Federal Tax Rebate Makes Customers Delay Their Purchases
Continouing with its price cuts, Tesla has once again lowered the price of the Model 3 & Y. The price cuts come as the recently proposed law to renstate the $7,000 EV tax incentive makes EV buyers hold off their purchases.
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Tesla has once again lowered the starting price of the company’s entry-level vehicles - the Model 3 and Y. The current price cut is coming in a series of price adjustments that have made the two vehicles close to the average vehicle selling price in the US.
The saga of Tesla entering the Indian market has been going on for a few years now. Back in 2016, Elon Musk on multiple occasions had said Tesla was going to launch in the country. Following his statement, Jay Vijayan, who was then Tesla’s Chief Information Officer visited the country.
But the uptick of enthusiasm was brought down soon after. Following the visit by Vijayan, Elon Musk said Tesla might not be allowed to sell in India. The reason was regulations that forced car companies to source 30% of parts locally.
In response, India’s Ministry of Commerce and Industry said the company does not need to have locally made parts. However, the ministry also seemed to suggest Tesla will be allowed to sell its cars only if the company manufactures the vehicles in the country.