Tesla Cuts Prices of Model Y, Model X, and Model S Vehicles in the US

Tesla Cuts Prices of Model Y, Model X, and Model S Vehicles in the US (Image: X@Tesla)

VoM News Desk | April 21, 2024 | 10:26 AM IST | Breaking News | Follow on Google News

Tesla Cuts Prices of Model Y, Model X, and Model S Vehicles in the US

Tesla Cuts Prices of Model Y, Model X, and Model S Vehicles in the US

Tesla, the world’s most valuable automaker, reduced the prices of its Model Y, Model X, and Model S vehicles in the US by $2,000 each on Friday, following first-quarter deliveries that fell short of market expectations.

The company adjusted the prices for its Model Y base variant to $42,990, while the long-range and performance variants now carry tags of $47,990 and $51,490, respectively. The entry-level Model S now costs $72,990, and its plaid variant is priced at $87,990. The Model X base variant now bears a price tag of $77,990, and its plaid variant is priced at $92,900.

Tesla North America announced in a post on its website that it would discontinue referral program benefits in all markets after April 30. The referral program, a long-standing sales strategy employed by traditional automakers, offers buyers additional incentives through referrals from existing customers.Musk’s planned trip to India, where he was scheduled to meet Prime Minister Narendra Modi and announce Tesla’s entry into the South Asian market, has been postponed, according to Reuters’ Saturday report.

On Monday, Reuters reported, citing an internal memo, that Tesla was implementing workforce adjustments, affecting more than 10% of its global workforce.

Earlier this month, Reuters reported that Tesla had canceled the production of its long-awaited, inexpensive car, which was anticipated to cost $25,000 and was expected to drive mass-market growth.

Tesla disclosed this month that its global vehicle deliveries in the first quarter had declined for the first time in nearly four years, as price cuts failed to generate demand.Tesla is set to report its first-quarter earnings on Tuesday.

VoM News Desk

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