New Tesla Model 3 starting price sits at under US$38,000 after inventory prices drop yet again and share prices fall further

Tesla has been on a roll lately, starting a price war in the beginning of 2023 only to further drop prices later in the year to intensify the pressure on its rivals. Now, days after Elon Musk announced that Tesla prices would drop yet again, the starting price of inventory Tesla Model 3 units has dropped yet again (via InsideEVs). These price cuts take place as Tesla continues to inch closer to the finalised version of the Model 3 Highland refresh.

As a result of the latest price drop, in-stock Tesla Model 3 electric sedans can be had for just US$37,940. Since the Model 3 also qualifies for the US clean vehicle tax incentives, the actual price ends up far closer to the US$30,000 mark. The Model Y also received some discounts, although they are less significant, amounting to a maximum of US$2,770.

The electric vehicle market has seen some major changes in recent months, with supply finally catching up to demand. This is especially true for Ford, where reports started to surface that the company's EVs weren't selling because there were units available in dealer lots.

A stabilising EV market wherein customers don't have to wait up to six months for delivery of their order can only be a good thing for the consumer, but some of Tesla's recent price cuts and lower profit margins seem to have affected its stock market performance. Over the last week or so, since Tesla announced its Q2 earnings, its stock price has reportedly fallen close to 10%.

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