Tesla has significantly discounted their Model 3 inventory in Canada and the US on Wednesday night. The discounts comes just a few days before Tesla is expected to announce their newly designed Model 3 in China.
Over the last two months Tesla has been discounting their Model 3 in both countries, with the first discounts appearing in early July. At that time the discounts in Canada were as much as $5,000. and in the US, some above $3,000. What made those discounts noteworthy, other than the amount, was that they were added at the beginning of a quarter, a time when Tesla usually ends discounts that appeared a few weeks earlier at the end of the previous quarter, leading us to believe they could have been starting to try and get rid of inventory ahead of the release of the Model 3 refresh known as Project Highland.
Since then the discounts have fluctuated, and sometimes disappeared altogether, and more importantly there has been no announcement on the new Model 3. But recent reports suggest an announcement will come on September 1 in China. On Wednesday night the discounts returned, and with the time difference that is just about 24 hours away from the expected announcement.
This time the discounts are even larger. Based on a review of Tesla’s existing inventory website, discounts on the Model 3 Rear-Wheel Drive (RWD) variant are about $5,700 in most cases. One of the cheaper examples we could find was this Model 3 RWD in Langford for just $49,490, down from the regular price of $54,990. Add in the federal $5,000 incentive, and the provincial $4,000 rebate (if you qualify), and a referral code and you could purchase this car for around $40,000.
Meanwhile discounts for the Model 3 Long Range (LR) they are nearing $7,000 in almost all examples we could find, like this Multi-Coat Red Model 3 LR in Toronto for $60,830, instead of $67,590.
The discounts in the US are similar. On the RWD variant they are about $3,700, like this example for $37,490, down from the regular price of $41,240. Add in the $7,500 tax credit, and this Model 3 is under $30,000.
Like Canada, the discounts in the US on the LR variant are higher at over $5,000. There is this Black Model 3 LR in Washington State for $46,120, down $5,120 from the regular price of $51,240.
It remains to be seen if these large discounts mean the new Model 3 is just around the corner, but with Giga Shanghai producing the car for over a month now, and increased sightings of test vehicles in China and several European countries, it feels like we could finally get the official announcement very soon.
The good news for Canadians is that we now get our vehicles from China, instead of California. That means we will likely receive the new Model 3 before our friends in the US as there has been no indication Fremont has adjusted their production lines for the new design.
Will you be jumping on any of these deals? Let us know in the comments below.