Tesla cuts prices in US to spur demand
Tesla Inc has announced a significant reduction in the prices of its electric vehicles in the United States, as per the company’s website on Thursday. This move is part of the company’s strategy to encourage demand amid a weakening economy.
CEO Elon Musk had previously emphasized the need to lower prices to stimulate demand, and Tesla has already witnessed a surge in orders after introducing global discounts earlier this year.
The price cuts on Tesla’s Model S and Model 3 vehicles range from 1.9% to 5.6%. The basic version of Model S now costs $84,990 after a price cut of 5.6%, while the performance variant of Model 3 is now priced at $52,990 after a 1.9% reduction.
Tesla’s decision to lower prices underscores the company’s commitment to making electric vehicles more accessible to a wider audience. The move is also aimed at maintaining the company’s market dominance in the electric vehicle segment.
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