top of page
  • NEWS Desk Global

TESLA CUTS US PRICES OF MODEL 3, Y IN PUSH TO MEET DELIVERY GOAL

Tesla (TSLA.O) has cut U.S. prices of its Model 3 compact sedan and the Model Y SUV, ratcheting up its price war just days after the third-quarter deliveries of the world's most valuable automaker missed market expectations.

The latest cuts come as the company strives hard to deliver a record 476,000 vehicles in the last three months of 2023 to meet the annual target of handing over 1.8 million vehicles. The price cuts by Tesla - now by about 2.7% to 4.2% - started in January to support sales in an uncertain economy and fend off competition from U.S. automakers such as Ford and China's BYD. Tesla shares fell 2.1% amid broader market weakness and on fears that the cuts will further dent the company's industry-leading margins, which plumbed a near four-year low in the April-June quarter. The standard Model 3 sedan is now $1,250 cheaper at $38,990, while the Model Y long-range variant costs $2,000 less at $48,490.

0 views0 comments

Comments


bottom of page