Tesla Cuts Prices On The Model 3 And Model Y; Sixth Price Cut This Year
When will it end?
The most prolific EV manufacturer, once again cut pricing on its model lineup by a significant amount. Right on the cusp of its quarterly results, the brand cut the prices on the Model 3, and Model Y. This is the sixth time this year that Tesla has cut pricing.
First up, is the Model 3, which got the smallest price cut of only $2,000. The base car now starts at $39,990 before shipping. Then, the brand introduced a new base model starting at $46,990 that slots under the long-range model. Even without the introduction of the base model, all Model Y prices have seen a cut of $3,000. This is way down from the more than $64,000 original price of the Model Y back in January.
The US isn’t the only market to get price cuts, either. The brand has slashed prices in most of Continental Europe, Mexico, and China – where local manufacturers have steadily been rising in quality and value. Musk has said in the past that Tesla’s price cuts aren’t to stave off slipping demand but to make the brand’s products more affordable to a wider range of buyers.
Is this good for Tesla? We aren’t sure, there certainly is a small, but growing number of buyers who feel shortchanged that the brand has reduced prices shortly after their purchase. Price cuts do make the Model 3 and Model Y more competitive in the face of growing competition both domestically and internationally. Yet, price cuts can’t allay the fact that the Model 3 and Model Y has been on sale for a long time with minimal changes. Other manufacturers are simply catching up and Tesla is trying to stay ahead of them.
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Kevin has been obsessed with cars ever since he could talk. He even learned to read partially by learning and reading the makes and models on the back of cars, only fueling his obsession. Today, he is an automotive journalist and member of the Automotive Press Association. He is well-versed in electrification, hybrid cars, and vehicle maintenance.
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