Tesla has slashed prices in the US, China and Germany as the battle with electric vehicle makers escalates and sales decline. Tesla has slashed the price of three electric vehicle (EV) models by $2,000. Last Friday (April 19), the Elon Musk-owned company’s website revealed new prices for the Y, X and S models.
According to a CBS report, according to Tesla’s website, the price of the basic version of the Model Y is now 42 thousand 990 dollars. The price of the long-range version of this model is 47 thousand 990 dollars and 51 thousand 490 dollars respectively.
The price of the basic version of the S model is now 72 thousand 990 dollars and the price of the plaid version is 87 thousand 990 dollars.
On the other hand, the price of the original version of Model X is 77 thousand 990 dollars and the price of the plaid version is 92 thousand 900 dollars.
Tesla did not immediately respond to a request for comment on Monday (April 22). However, CEO Elon Musk announced the price change on social media on Sunday (April 21).
“Tesla will have to change prices frequently to match production with demand,” he told X.
Tesla has slashed prices in China, selling the Model 3 for around $1,930. That’s because Tesla faces stiff competition there from more than a dozen electric car rivals, including Lee Auto, Neo and BYD.
Reuters recently reported that BYD has cut prices in some cases by up to 20 percent this year to stay competitive in China’s EV market.
Earlier this year, BYD overtook Tesla to become the world’s largest seller of electric vehicles, Forbes reported.
In a post on the X (formerly Twitter) platform, Tesla North America said the company will end the referral program in all markets after April 30. Buyers are given special incentives through referral programs. Through this, product sales increase. The technique has been used by car manufacturing companies for a long time.
Earlier this month, it was reported that Tesla had dropped plans to build affordable cars. Which would probably cost 25 thousand dollars. Through this, the company’s investors were hoping to enter the market of low-income buyers.
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