Tesla Model 3 could get a purchase price below $20,000 in Colorado, USA. The state has generous incentives in place to encourage the purchase of electric vehicles to meet Colorado's transportation electrification goals.
The US has stepped up its efforts to promote the widespread adoption of electric vehicles (EVs). Eligible EVs can receive federal credits, state credits, and other credits that may lower their starting price to make them very affordable to purchase. Tesla cars are among those that receive various credits, mainly due to the fact that they are the most American-made on the market.
Price parity between EVs and internal combustion engine (ICE) vehicles has always been an important goal. In recent months, thanks to Tesla's price cuts and purchase incentives, its Model 3 and Model Y have achieved this in the US and several other countries around the world. However, now buying Tesla cars is becoming an even better deal, thanks to incentives launched in some US states.
CPR News (via @SawyerMerritt/X) shared a list of incentives that EV buyers in Colorado can receive. It is quite extensive and offers the opportunity to get $26,500 when buying an EV. It should be kept in mind that it will be difficult to meet absolutely all the requirements for all existing benefits. However, getting the most likely ones will still result in savings of over $20,000.
With that in mind, the Tesla Model 3 RWD price could drop to an impressive $13,740 from its $40,240 starting price. However, not all credits can be accumulated, as Elon Musk pointed out. In particular, Xcel Energy rebates ($5,500) cannot be combined with other credits. However, Colorado regulators are currently reviewing a plan that would allow for a mix of government credits and Xcel incentive.
I’m told by my team that the credits are not currently stackable, so the best case is more like roughly $20k and there are significant income restrictions. Still very compelling.— Elon Musk (@elonmusk) August 6, 2023
While Xcel credit cannot be added, eligible customers can still receive a whopping $21,000 discount on the new Tesla Model 3 RWD. This means that the starting price of the car will be $19,240.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.