Tesla reduces prices of its cars in the US

Tesla today surprised everyone by announcing price cuts for its cars. This new price cut is applicable in both China and the US. The price cut varies from $2000 to $5000 depending on the model. Find the details below.

• Tesla Model 3 now starts at $37,990 instead of $39,990 ($2000 price cut)
• Tesla Model S Long Range Plus now costs $74,990 instead of $79,990 ($5000 price cut)
• Tesla Model S Performance now costs $94,990 instead of $99,990 ($5,000 price cut)
• Similar price cuts for Model X models.

However, there is no change in the pricing of the new Tesla Model Y.

Due to the COVID-19 situation, car sales have gone down significantly in the past few months. Tesla’s plan may be to clear the unsold inventory with this new price cut. However, Tesla has not officially commented on the reason for the price cut.

Source: Tesla