Tesla axes prices on popular car models in the US again! Here's why
basic Model 3 is now $38,990, which is $1,250 less than before. The long-range version of the Model 3 is also discounted by $1,250, making it $45,990, as per the wire agency. Tesla has made price cuts on some of its car models in the United States.
They reduced the price of the performance version of the Model 3 by $2,250, so it now starts at $50,990. Additionally, they lowered the price of the long-range and performance versions of the Model Y SUV by $2,000 each, making them cost $48,490 and $52,490, respectively. Tesla also brought back a less expensive version of the Model Y earlier this week.
Reportedly, Tesla's stock went down by 1.6 percent at 5AM. New York time on Friday, before regular trading began. So far this year, the value of the company's stock has more than doubled.
In the last three months, Tesla delivered 435,059 vehicles. This is fewer than the previous quarter and falls short of what analysts predicted by about 20,000 units. To reach its yearly goal of 1.8 million cars, Tesla will have to deliver more than 475,000 additional vehicles.
Tesla lowered its prices to boost sales, but this has made it harder for the company to make as much profit. The CEO, Elon Musk, has not been too concerned about this. He has suggested that even if Tesla doesn't make much money when they sell a car, they can make money later by selling software updates.
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