Tesla Cuts U.S. Prices Again Ahead Of 1Q Earnings Release
April 19, 2023 9:53AM PDT
DETROIT (AP) — Tesla dropped the starting prices for its two top-selling models overnight, the company’s fourth price U.S. price cut this year.
The company lopped $3,000, or about 6%, off the starting prices for all three versions of the Model Y small SUV, Tesla’s top-seller.
It also cut $2,000, or about 5%, from the starting price of a version of the Model 3 small sedan.
Tesla could have cut the Model 3 prices to make more cars loaded with options eligible for the U.S. government’s $7,500 electric vehicle tax credit.
With options, some Model 3s would exceed the government’s $55,000 price limit for cars.
But some industry analysts say demand may be slowing for the company’s vehicles as more competition enters the market.