Tesla CEO Elon Musk has previously admitted the need for a more affordable Tesla, one that is cheaper than the Model 3, to gain a foothold in emerging and developing markets across the globe. While the Model 3 is the company’s best-selling electric vehicle, it has faced fierce competition in markets like China from local rivals like BYD and SAIC.
To stay ahead of the competition, Tesla has been teasing two new electric vehicles, one of which could be the cheapest ever from the brand. The company may still have a substantial lead in terms of sales, but its lineup of models has not seen any fresh offerings in some time now. The much-delayed Cybertruck is also being given the finishing touches, and the company is expected to reveal more details about it soon.
Price Cut on Tesla
In a bold move to keep up with the rising competition in the electric vehicle market, Tesla has announced a new wave of price reductions across its entire lineup of vehicles. The company, known for its luxurious and high-performance electric cars, had consistently increased prices over the past two years but is now bringing them down to attract more buyers.
Model S and X Prices
The latest price cuts are affecting every vehicle in Tesla’s lineup, with some models seeing a reduction of up to $5,000 overnight. The biggest reductions are seen in the Model S and Model X, which have received significant drops in prices since the beginning of the year. The Model S now starts at just $84,990, down $5,000 from yesterday, while the Model X starts at $94,990, also down $5,000.
Even Tesla’s high-end supercars, the Model S Plaid, and the Model X Plaid have seen a reduction in price. The Model S Plaid is now available for just $104,990, down from over $130,000 last year. The Model X Plaid, which sells for the same price as the Model S Plaid, is also down $5,000 at $104,990.
Tesla Model 3 Price
Tesla’s most popular electric vehicle, the Model 3, has also seen a price reduction. The base Model 3 now starts at $41,990, down from $42,990, while the Model 3 Performance has seen a $1,000 price drop to $52,990. The Model Y has seen some of the most significant changes, with the inclusion of the Model Y AWD in the configurator and a $2,000 price drop for the Model Y Performance to $56,990.
Writer’s Remark
In the rapidly growing electric vehicle market, Tesla’s price reductions are a clear indication of its commitment to staying on top. The company’s bold move may destroy some carmakers, but it’s clear that Tesla is determined to continue leading the charge toward a more sustainable future.
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