Tesla Reduces Model 3 Prices Across All Trims - Now Starting at $42,900

Tesla updated the Model 3 design studio today with a price reduction of $1,100 across all trims. Tesla has said that this price reduction is made possible by ending their Referral Program, which actually had led to higher-than-anticipated costs for the company.

Before incentives, the current cheapest Mid Range trim Model 3 will now cost $42,900. Below are the previous and new prices of all Models 3s.

• Mid Range: $44,000 -> $42,900
• Long Range: $51,000 -> $49,900
• Performance: $62,000 -> $60,900

Though this price reduction is heading in the direction of the promised price-tag of $35,000, it will still take the introduction of a new trim to achieve that price. Tesla is on record saying they expect to make the Standard Range trim available sometime in 2019.

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