Tesla Slashes Price Of Two Car Models

The prices of the cheapest electric cars, Model 3 and Model Y at Tesla Inc. have been reduced while the prices for the Performance versions, has been increased.

This development was disclosed on the website of the electric carmaker’s website.

On the reduction and increase, the Model 3 Standard Range Plus is now 2.6% cheaper at $36,990 in the U.S. The price of the Model Y Standard Range was cut by 4.8% to $39,990.

Before this development occurred, sources revealed that Tesla Chief Executive Officer Elon Musk has regularly lamented that Tesla’s cars are too expensive.

Meanwhile, the company has a long history of enacting price cuts and incentives to drive deliveries during critical quarters.

Another impressive plan the industrial engineer is working on is to make available at least a $25,000 car. Musk made this known on “Battery Day” event last fall.

The lowering of prices of Tesla electric cars has hit Japan.

The website shows has also revealed that the performance variant of the Model 3 rose 1.8% to $55,990, while the price of the Performance variant of the Model Y increased 1.7% to $60,990,

While the increase and deduction in prices are on, analyst Dan Levy of Credit Suisse passed a message in a note to clients. Levy said,  “Adjustments may reflect mix strategy,” “We believe Tesla strategy is to cut price (funded by cost cuts) to spur volume increase.”


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