Tesla continues to cut prices on some of its' electric vehicles in the U.S. in a move to boost demand. This is the second time this month.
Tesla Inc has cut prices for some of its Model Y and Model 3 vehicles in the U.S., the sixth time the company has made such a move this year as it looks to spur demand even at the cost of its industry-leading profit margins. The cuts came ahead of the electric-vehicle maker's first-quarter earnings due on Wednesday. Shares have risen just a little under 50% this year, after posting their biggest annual drop in 2022.Tesla's website showed late on Tuesday that it cut prices of its Model Y 'long range' and 'performance' vehicles by $3000 each and of its Model 3 'rear-wheel drive' by $2,000 to $39,990.
The company cut U.S. prices of its base Model 3 by 11% so far this year and that of its base Model Y by 20% – moves that come as the United SA sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018.
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