Tesla Cuts the Model 3 Price Again

Tesla Inc. cut the price of its mass-market Model 3 sedan for the second time this year, another step in Chief Executive Elon Musk’s quest to drive the sticker price—not counting tax credits and fuel savings—down to $35,000.

The Silicon Valley auto maker shaved another $1,100 off the cheapest version of the Model 3, lowering the price to $42,900. Last month, Tesla lowered prices by $2,000 for the entry version, after a federal tax credit for buyers of electric vehicles was cut in half Jan. 1

In an overnight tweet, Mr. Musk touted the Model 3 price at around $35,000—but with an asterisk. The $34,850 price advertised on Tesla’s website includes what the company says is $3,750 in still-existing tax credits and $4,300 in promised gas savings.

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