Tesla cuts prices on all models, 3rd cut this year

The Associated Press

DETROIT (AP) – Tesla cut prices on its entire U.S. electric vehicle model lineup for the third time this year in an apparent effort to lure more buyers amid rising interest rates.

The cuts that appeared Friday on Tesla’s website ranged from $5,000 per vehicle for Tesla’s slower-selling more expensive models, the S large sedan and the X big SUV.

The company lopped $2,000 off the price of the Y small SUV, its most popular model, and added a lower-cost dual-motor version priced at $49,990.

The 3 small sedan saw a $1,000 price cut. The moves come as Tesla’s first-quarter sales grew 36% but fell short of analysts’ expectations.

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4/7/2023 10:20:42 AM (GMT -5:00)