Tesla cuts prices

Tesla cuts prices

Tesla Model 3

Tesla TSLA slashed the price of its Model 3 sedan and Model Y crossover yet again in the United States in a bid to boost sales.

Per the company’s website, Model 3 Rear-Wheel Drive (RWD) now starts at $38,990, down from the previous price of $40,240, while Model 3 Long Range is now priced at $45,990, down from $47,240.

Tesla’s Model 3 Performance now starts at $50,990, down from the previous price of $53,240. The new price is quite appealing for a model that has a top speed of 162 mph and a range of 315 miles per charge.

For Model Y, Tesla slashed prices of the all-electric crossover’s mid-tier and top-tier variants. The Model Y Long Range and Model Y Performance now start at $48,490 and $52,490, respectively, down from $50,490 and $54,490, respectively.

The automaker retained the price of Model Y RWD at $43,990.

This fresh round of price cuts has made the models more attractive in the U.S. market. Under the Inflation Reduction Act, both models qualify for the $7,500 federal tax credit. Other incentives could further reduce the prices of the models in states like Colorado.

On the other hand, the EV pioneer increased the price of Model Y in Sweden and Norway. In Sweden, the company increased the price by $1,364, while in Norway it increased the price in the range of $1,822-$2,186.

This year, Tesla adjusted the prices of its models quite a few times to stimulate demand. By the end of the year, Tesla will start delivering Cybertruck and Model 3+. A new line-up might help the company reach its delivery target of 1.8 million units in 2023.

Notably, in September, Tesla sold 74,073 vehicles manufactured in Giga Shanghai. The figure represents a decline from 83,135 vehicles sold in the year-ago period and 84,159 vehicles sold in August.

Despite registering a decline in the number of vehicles sold in September, Tesla delivered robust sales in the third quarter. The company sold 222,517 China-manufactured vehicles, up 18.16% year-over-year. It sold 699,056 vehicles in the first three quarters of 2023, up 44.71% year-over-year.

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest