Some California Buyers Could Get a Tesla Model 3 for Less Than a New Toyota Camry

Chris Teague
by Chris Teague

some california buyers could get a tesla model 3 for less than a new toyota camry

Should you buy a Camry, or should you buy a car from Elon Musk? If you’re shopping on price alone and live in California, the choice might become a lot simpler after this news. Reuters recently reported that the Model 3 can become less expensive than a new Camry if buyers can capitalize on federal and California state incentives.

The base Model 3 starts at $40,240, which can drop as low as $25,240 after accounting for the $7,500 federal EV tax credit and the $7,500 California tax credit. The Camry starts at more than $26,000 for comparison. Tesla recently shifted some of its supply chain practices to make all Model 3 variants eligible for federal credits, which require battery materials to be sourced from certain areas.

Tesla has also cut prices in recent months, after years of increasing MSRPs. Combined with federal and state incentives, the price adjustments may help the automaker buoy Model 3 sales as it prepares to roll out an updated car in the coming months. At the same time, Tesla is gearing up to finally begin production of the long-awaited Cybertruck, as its suppliers claim the company will have release candidate units ready by the end of August. Elon Musk seems confident, too, telling investors the automaker will build 375,000 trucks per year.

[Image: Tesla]

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13 of 63 comments
  • Analoggrotto Analoggrotto on Jun 09, 2023

    A human who choses Tesla is telling the world that they are more intelligent than 98.5% of the remaining population. The Homo sapiens genome is evolving to the next species and it is starting with TESLA customers. We are the future, we are the galaxy, we will succeed all of humanity.

    • Zerofoo Zerofoo on Jun 09, 2023

      Hey ChatGPT! How nice of you to join us.

  • TheEndlessEnigma TheEndlessEnigma on Jun 09, 2023

    Tesla, relying on subsidies to sell vehicles. Goes to prove Tesla is still not price competitive. As I've asked before, what would happen to tesla pricing if the government subsidies were discontinued? I think the answer is clear, Tesla prices would drop to maintain sales. Now here come VoGhost and Art Vandelay with personal attacks.

    • See 3 previous
    • Jkross22 Jkross22 on Jun 09, 2023

      I agree. People who want a Tesla or an EV6 or a Lucid or whatever can pony up and buy it themselves. Just like how Civic, Tercel, Nova, Fusion and Astre buyers somehow figure it out.

  • Kcflyer Kcflyer on Jun 09, 2023

    Nice to see California giving NY some competition to be the worst run state in the union.

    • See 2 previous
    • Jkross22 Jkross22 on Jun 09, 2023

      Kcflyer, wait, are you saying that CA may not be doing things right? Someone better tell Gavin because even though CA public schools continue to circle the drain, he got an innovation in education award. I kid you not.

  • Kcflyer Kcflyer on Jun 09, 2023

    Did Newsuance get the award for his efforts at grooming kids?

    • 28-Cars-Later 28-Cars-Later on Jun 09, 2023

      I don't even want to know the bad-kind-of-depraved stuff that goes on in his social circles.