With a basic price of $39,990 after taking $2,000 off, the Model 3 is a relative "bargain" among EVs.

For individuals wishing to move to an electric vehicle, the Model 3 is now more reasonable than the typical price of a new automobile.

This is the second time this month and the sixth time this year that Tesla has lowered the price of its electric cars.

The vehicle 3, a four-door sedan with rear-wheel drive, is the most affordable vehicle in Tesla's lineup and is already well-liked.

The Model Y crossover from Tesla was the sixth-best-selling car in the United States in 2022.

Tesla's Model 3—which now has a sticker price that starts below $40,000—presents internal competition for the Model Y.

When the Model 3's pricing was $42,990 in February, Bloomberg noted that it was selling for $4,930 less than the typical new American car.

Although pickup trucks still account for the majority of car sales in the US, Tesla has made it into the top 10 for the first time.