- Tesla Inc (NASDAQ: TSLA) has reduced the prices of its vehicles. There were drops in prices by thousands of dollars on a number of its models.
Now the Model 3 has a starting price of $37,990, which is a $2,000 drop. And Tesla also has an “off-the-menu” version of the Model 3 that starts at $35,000 with fewer options.
The Model S Long Range Plus now has a starting price of $74,990 — a $5,000 price drop.
And the Model S Performance now has a starting price of $94,990 — a $5,000 price drop.
The Model X electric SUV now starts at $79,990 — a $5,000 price drop.
But it’s worth mentioning that the Model Y mid-sized SUV has not seen a price reduction. The Model Y is a new vehicle that recently started shipping.
The prices of the Tesla vehicles are also being cut in China as well. The Model S and Model X prices are being dropped by about 4%.
These price drops come at a time when the global pandemic and work-from-home lockdowns affected the production and sales of vehicles. Recently Tesla started up the production at its factory in Fremont, California again after it was shut down during the months of March and April.
To reduce costs, Tesla said that the Supercharger service will no longer be free for new customers of the Model S sedans and Model X SUVs.
