Tesla Model 3 RWD in Oregon
We recently wrote about how the IRA tax credit was adjusted so that the Tesla Model Y SUV in all its forms now qualifies as an SUV with an $80,000 MSRP limit. This is good news for Tesla.
Oregon is giving a $7,500 tax credit for various EVs being sold and the Tesla Model 3 RWD is one of those. Oregon also has no sales tax. That means your total adjusted cost for a Tesla Model 3 RWD in Oregon is just $30,630!
Other states are offering rebates and not just Oregon. Massachusetts has a $3,500 EV rebate and if you include the $7,500 IRA EV tax credit, that gets you a Model 3 RWD there for $32,990 - but that doesn't include 2% sales tax.
In New Jersey, you will get $25 in incentives per mile of EPA-rated all-electric range, which is up to $4,000 with an MSRP of $45,000 or below for purchasing an EV.
For some of these incentives, there are income caps for you to be eligible to take advantage of these deals.
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Tesla Model 3 RWD Will Come Down In Price
The Tesla Model 3 RWD is now getting heavily discounted in some states and I expect that other states will follow. This tax credit is going to increase demand. However, I still see Tesla lowering the price of this vehicle eventually - and this will be done when their Project Highland is completed and the cost is lowered.
The Tesla Model 3 RWD is an interesting vehicle because it is the only Tesla vehicle in the U.S. that uses LFP batteries and that can be charged to 100% regularly without too much degradation on the battery.
I see Tesla lowering prices to an eventual $39,000 for this vehicle and that will create a flood of demand for it. There is a tipping point at which a vehicle costs less than $30,000 that the market for that vehicle opens up widely.
I have a Model 3 RWD that I bought for $44,900. Most likely, that car is going to come down in price and I have to accept that I bought it at a higher price than I needed to. But, it's a great car that I'm getting a lot of value out of.
What do you think of these discounts for the Model 3 RWD? Will other states follow this incentive?
In Related News: Tesla Model Y to Lead European Car Market
Wow, I was curious to find out what US state had the best EV incentives. You can get a brand new Model 3 RWD in Oregon for as little as $30,630 after incentives!The state will give you up to $7,500 (in additional to the $7.5k federal incentive). The state also has no sales tax. pic.twitter.com/2B4Ujw3gKW— Sawyer Merritt (@SawyerMerritt) February 3, 2023
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.