2023 In Some Places, The Model 3 Is As Cheap As A Toyota Corolla.

Along with Model 3, which is cheaper in purchase price than a 2023 Toyota Corolla in certain places, has a similar leasing price, according to CleanTechnica.

Toyota Corolla
Toyota Corolla

At a similar price, Teslas Model 3 is marginally more popular than Toyotas Corolla because buyers believe that the cars features and fuel and maintenance savings make up for its significantly higher price. When factoring all these electric vehicle credits and incentives, the price of a new 2023 Model Base Tesla is only $26,990 in Oregon.

Model 3 prices are particularly low in states that have generous electric vehicle tax credits and incentives. While Teslarati has looked at Oregons credits and incentives, other states also have generous ones–helping push the Model 3 toward 2023 Toyota Corolla territory.

Given the base prices for similar-looking Prius cars are in the high $20ks (or $23,000 for the 53-mile-per-gallon hybrid Toyota Corolla), compared with $43,000 for the least expensive Tesla Model 3 (before taxes and the $7,500 federal tax credit), there is a huge difference between how many people will be able to afford it.

When we compared Toyota Corolla to Tesla Model 3, the Toyota Corolla had an edge in new vehicle base pricing, typical lower price ranges of one-to-five-year-old used cars, and overall quality scores.

The current line of Tesla cars (Tesla Model S, Tesla Model X, Model 3) all have price points between $35,000-$124,000, prior to electric vehicle tax incentives. With a base model selling at $35,000, Teslas Model 3 is Teslas first attempt at a truly mass-market electric vehicle, one that would attract auto shoppers from a variety of budgets.

The Model 3 has quickly become one of the most talked-about and favorite electric cars available thanks to its unique blend of performance and affordability. McDonald went on to state that this growth — combined with recent Tesla price cuts to some of the more popular Tesla models — makes it highly likely that Tesla will come out on top in California in the next year or two.

A driver replacing a small gas-powered vehicle with an equivalent-size EV with a 60-kilowatt-hour battery pack — roughly the size of the Tesla Model 3 or the Chevrolet Bolt — has lower overall carbon emissions (including production) of the car over roughly 18,000 miles of driving, according to the Argonne National Laboratory.

The Internal Revenue Service is expected to rule on which cars receive the $7 some time in March, and a rear-wheel-drive Model 3 would probably lose $3,750 in its tax credits because its lithium-iron-phosphate batteries are made in China, and those batteries are supposed to not qualify for the $3.

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