Tesla has cut the price of its Model 3 and Model Y vehicles in the US for the second time this month, reducing the starting price of Tesla’s most affordable EV below $40,000 . The adjusted pricing has been rolled out shortly before Tesla is expected to release its quarterly earnings report later today. The Model 3 Standard Range RWD has been reduced from $41,990 to $39,990.
The Long Range model was reduced from $52,990 to $49,990, and Performance from $56,990 to $53,990. The EV producer has regularly adjusted its vehicle pricing in recent years, having made several increases across its entire range between 2021 and 2022. The company has repeatedly lowered its prices this year in an attempt to boost sales in the face of a weakening economy and increased competition from rival vehicle makers.