Tesla cuts prices for Model Y, X, S cars

Alex Omenye
Alex Omenye

Tesla has reduced the prices of its Model Y, Model X, and Model S by $2,000 for buyers in the US, Reuters reported.

The North American division of the company announced the adjustment to the Model Y on Friday night, concurrently revealing the discontinuation of Tesla’s referral program benefits across all markets by April 30.

Following the adjustment, the base model of the Model Y is now priced at $42,990 for rear-wheel drive, $47,990 for the Long Range variant, and $51,490 for the Performance model.

Similarly, the base Model S is now priced at $72,990, while the Model S Plaid starts at $87,990. The Model X’s base price is now $77,990, with the Plaid variant starting at $92,990.

These price adjustments coincide with a challenging period for Tesla, marked by a recent Cybertruck recall due to potential accelerator pedal issues, reports of layoffs affecting 10 percent of its workforce, and a decline in first-quarter deliveries.

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