Tesla has made headlines with a new series of price reductions across its entire lineup of cars. This move comes as a surprise to many, as Tesla has consistently raised its prices over the past two years.
However, with this new price drop, Tesla aims to keep up with increasing competition in the EV market and maintain its market share. Prices on some models have been reduced by as much as $5,000 overnight, making Tesla’s electric cars more affordable and accessible to a wider range of consumers.
This wave of price reductions is not the first time that Tesla has made adjustments to its pricing strategy this year. In January, the company announced significant price drops, followed by smaller adjustments to the Model 3 and Model Y in February. Last month, the Model S and Model X also saw price cuts.
Tesla’s latest price reduction is a significant move that affects every vehicle in the company’s lineup. This move is likely to attract new customers and retain existing ones, as more people look to switch to electric vehicles.
Tesla Model 3
The base price of Model 3 is being reduced from $42,990 to $41,990, but it is anticipated that the base model will forfeit a portion of its $7,500 federal tax credit this month due to the utilization of LFP battery cells sourced from China. Additionally, the cost of the Model 3 Performance is being lowered by $1,000 to $52,990.
Tesla Model Y
The major price difference in Model Y is attributed to the availability of Model Y AWD in the configurator. It was previously only offered as an “off-the-menu” item but now can be accessed starting from $49,990 via the online design studio. Meanwhile, the Model Y Long Range has undergone a price reduction from $54,990 to $52,990, presenting an exceptional value proposition. Additionally, the Model Y Performance has been discounted by $2,000, with its current price standing at $56,990.
Tesla Model S
Since the beginning of the year, Tesla’s Model S and Model X have experienced the most significant overall price decreases, which are still ongoing. Tesla has recently updated the Model S configurator, with prices now starting at a mere $84,990. This is a drop of $5,000 from yesterday’s price of $89,990, and a remarkable $20,000 reduction from last year’s price of $105,000. Even the Model S Plaid, which is considered a supercar, is now available at a reduced price of only $104,990, down from over $130,000 in the previous year.
Similar to the Model S, the price of the Model X has experienced a significant decline in recent months. Presently, the electric SUV starts at $94,990, marking a $5,000 reduction. This price drop also applies to the Model X Plaid, which remains priced similarly to the Model S Plaid but is now available at $104,990, $5,000 less than before.
