Tesla Inc. again cut prices on its electric vehicles as the company looks to catalyze demand after its latest figures indicated greater production than deliveries.
The EV giant lowered the base price of its Model S sedan to $84,990 currently from $89,990 when Tesla TSLA made a prior round of price cuts in early March. The price of the Model... Tesla Inc. again cut prices on its electric vehicles as the company looks to catalyze demand after its latest figures indicated greater production than deliveries.The EV giant lowered the base price of its Model S sedan to $84,990 currently from $89,990 when Tesla TSLA made a prior round of price cuts in early March.
Tesla also slashed the price of its Model Y, the base model of which will cost $49,990. That’s down $2,000 from before, according to The Wall Street Journal.The Model 3 sedan got a price cut as well after a series of other reductions this year. The base version will now cost $41,990, Tesla’s website shows. It most recently cost $1,000 more, the WSJ reported.
Tesla now lists its basic Model X at $94,990, down from $99,990 when MarketWatch reported on an early March round of price cuts.The car company delivered 422,875 vehicles in the first quarter, below the FactSet consensus, which was for 432,000 units. Tesla produced 440,808 vehicles in the period, its April 2 release indicated.
“Continued excess production over deliveries will keep the debate going on price elasticity vs general demand weakness and the impact of IRA subsidies,” Jefferies analyst Philippe Houchois wrote after the delivery report, referring to the Inflation Reduction Act.
Smart squeeze the legacy auto makers that are losing billions on electric cars
😂😂😂 nobody wants this trash
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