Tesla is slashing the price of the Model 3, Model S, and Model X by $2,000 in the US

  • Tesla has cut the price of each of its vehicles by $2,000 for US customers, the automaker said in a regulatory filing released on Wednesday.
  • Tesla's Model 3 sedan now starts at $44,000 for US customers, while its Model S sedan starts at $76,000 and its Model X SUV starts at $82,000, before federal and state tax credits.
  • The move comes as a federal tax credit for electric vehicle customers begins to expire for Tesla.

Tesla has cut the price of each of its vehicles by $2,000 for US customers, the automaker said in a regulatory filing released on Wednesday.

The move comes as a federal tax credit for electric vehicle customers begins to expire for Tesla. As of January 1, Tesla customers are now eligible for a $3,750 tax credit, down from $7,500. The reduction was set in motion when Tesla sold its 200,000th vehicle in 2018.

Read more: Tesla delivered slightly fewer Model 3’s than Wall Street expected last quarter

Tesla's Model 3 sedan now starts at $44,000 for US customers, while its Model S sedan starts at $76,000 and its Model X SUV starts at $82,000, before federal and state tax credits.n

RELATED: Take a look at Elon Musk's craziest tweets of 2018:

22 PHOTOS
Elon Musk craziest tweets of 2018
See Gallery
Elon Musk craziest tweets of 2018
When the zombie apocalypse happens, you’ll be glad you bought a flamethrower. Works against hordes of the undead or your money back!
🖤 trouble
His name is Gary & he’s a snail
Time
Tomorrow brings a lemur https://t.co/rm6S17h35q
What are your fav short shorts?
Nothing is both real & imaginary
Stockholm: it’s not just a syndrome
I hope the kids are ok
Mason jars with a handle or wine stem cause me to lose faith in humanity
I’m killin me lol
It just occurred to me that the plot of Willy Wonka is really messed up
Oh btw I’m building a cyborg dragon
I have prehensile eyebrows
I just realized there is a jazz hands emoji 🤗
💕🍜 ramen is sooo good🍜 💕
Used to live in Silicon Valley, now I live in Silicone Valley
Remember the future
I remember when I was a sponge. Simpler times they were.
Nothing is both real & imaginary
For those worried about running out of fresh water, it may help to know that desalination only costs 0.1 cents per… https://t.co/a7nPcsLai5
Send me ur dankest memes!!
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

 

The US government gives a tax credit ranging from $2,500 to $7,500 to people who buy electric vehicles, depending on the vehicle's size and battery capacity. Two calendar quarters after a company sells 200,000 electric vehicles in the US, the tax credit begins to phase out. Tesla confirmed in July that it had passed the 200,000-vehicle threshold. It was the first company to have its credits phased out.

Tesla customers who take delivery between January 1 and June 30, 2019, will receive a $3,750 tax credit and those who take delivery between July 1 and December 31, 2019, will receive $1,875. Customers who take delivery beginning in 2020 will not receive a federal tax credit.

Tesla also announced on Wednesday that it produced (86,555) and delivered (90,700) more vehicles in the fourth quarter of 2018 in any prior quarter in its history. Its previous record for vehicle production and deliveries came in the third quarter of 2018, when it made 80,142 vehicles and delivered 83,500. Tesla also said it delivered more vehicles in 2018, 245,240, than in every prior year combined.

Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.

NOW WATCH: This two-faced truck is made from two Chevy Silverados — here's what it looks like on the road

More from Business Insider: 
Tesla delivered slightly fewer Model 3’s than Wall Street expected last quarter
Tesla had a wild 2018 — here's every bizarre thing that happened 
Truck owners are blocking Tesla Superchargers in 'ICE-ing' protests

SEE ALSO: From Elon Musk to Satya Nadella: Here are the 29 top tech CEOs of 2018, according to employees

Read Full Story