Tesla Trims Prices On Model 3 And Model Y Amid Sales Slump
The cuts keep coming.
Tesla has once again lowered prices on its Model 3 and Model Y vehicles, the latest of several reductions this year.
The starting price for the Model 3 Rear-Wheel Drive is now $38,990, down from $40,240, while the Long Range and Performance versions have been reduced from $49,240 to $47,990 and $53,240 to $50,990, respectively.
The Model Y Long Range and Performance also received $2,000 price cuts to $48,490 and $54,490.
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The changes come just days after Tesla added a new entry-level Model Y Rear-Wheel Drive to the lineup at $43,990.
All of the above prices do not include destination fees.
Tesla’s direct sales model allows it to easily update list pricing on its vehicles, similar to the way a traditional automaker and its dealers might apply short-term discounts and markups to meet demand.
Tesla reported a 7% drop in global deliveries during the third quarter, which it said was due in part to planned downtime for upgrades to several of its factories.
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