Tesla has reduced pricing in response to weakening demand


As deliveries fall short of expectations, Tesla has reduced the prices of certain of its vehicles around the world.

A number of Tesla vehicles will be discounted in the US and EU in an effort to increase sales.

After missing Wall Street’s predictions for the number of cars it will produce in 2022 due to sluggish demand and logistical challenges, Tesla has decided to take this new course of action. For 2022, the corporation has decided to take preventative action by lowering the prices of some of its best-selling products.

The Model Y Long Range, which was formerly priced at $65,990 in the United States, has now been reduced to $52,990, a 20% price cut. The SUV’s price reduced by more than $20,000, or 30%, because of a $7,500 US Federal Tax Credit it is now eligible for.

The Model 3 is Tesla’s most popular vehicle, so we’re especially pleased to see its price drop. The Model 3 RWD has a new, lower price of $43,990, according to Engadget (it was $46,990 earlier).

The Model Y performance has seen the greatest price reduction, dropping from £79,990 to £59,990 in the United Kingdom. The price has increased by £8,000 since yesterday. Also noted by AutoCar is a £7,000 price cut on the base Model Y, making it possible to purchase a Tesla SUV for for £44,990.

As reported by Reuters from Europe, “buyers buying the Model 3 for 44,990 euros ($48,773) would now get a further price cut through a government subsidy of 5,000 euros.” Also, “depending on the configuration, [Tesla] dropped pricing on the Model 3 and the Model Y by roughly 1% to almost 17% in Germany.” Unfortunately for those who have just purchased a new Tesla, the business has acknowledged that the higher price will be applied automatically to those who are still waiting for delivery. However, that doesn’t help the customers who have just taken delivery, as their brand new cars are now worth less.

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