Tesla Model 3 (Credit: Tesla) Tesla has once again dropped prices on the Model 3 and Model Y, one of at least a half dozen price adjustments the automaker has made in 2023 alone. Ahead of its Q1 earnings report, Tesla dropped the price of its Model 3 standard range RWD from $41,990 to $39,990. The Model Y also got a $3,000 haircut across its variants: the AWD version went from $49,990 to $46,990; the long range from $52,990 to $49,990; and the Model Y Performance from $56,990 to $53,990. Tesla Model 3 online order page (Credit: Tesla.com) The higher-priced Model X and Model S prices stay the same this time around, though last month they dropped $10,000 and $5,000, respectively. You May Also Like Your subscription has been confirmed. Keep an eye on your inbox! Tesla Model Y online order page (Credit: Tesla.com) Tesla's piece of the EV market has dropped in the face of more competition, going from 74% of all EV sales from Teslas in January 2022 to 57% in January 2023. That's a steep decline in share, but Tesla is still far ahead of the competition. In Q1, it delivered 423,000 vehicles to customers, compared with 20,000 for GM, its next biggest competitor. With all sales conducted online, changing prices for Tesla is much easier than traditional car brands. It's becoming more like a discount on an Amazon product than a dealer-sold vehicle whose yearly price is more or less locked in from its debut (unless the dealer marks it up or down independently). Ford has also taken advantage of digital sales on its electric vehicles, the F-150 Lightning and Mustang Mach-E, and has adjusted their prices several times since launch. Recommended by Our Editors