Tesla lowers Model Y, X, and S pricing in the US by $2,000

 

Days after its first-quarter deliveries of cars fell short of market estimates, Tesla (NASDAQ:TSLA) reduced the price of its Model Y, Model X, and Model S cars in the United States by $2,000 apiece on Friday. Tesla is the most valuable car company in the world.

On its website, Elon Musk's electric vehicle (EV) manufacturer announced that the base Model Y variation is now only $42,990, while the long-range and performance variants are now $51,490 and $47,990, respectively.

The current price of the Model S is $72,990 for the base model and $87,990 for the plaid version. The standard Model X variation is now $77,990, while the plaid variant is $92,900.

Additionally, Tesla North America announced in a post on X that it will stop offering the benefits of its referral programme in all markets on April 30.

Referral programmes enable purchasers to receive additional incentives through recommendations from current clients, a tactic that traditional manufacturers have long employed to increase sales.

According to Reuters on Saturday, Musk has cancelled a trip to India where he was scheduled to meet with Prime Minister Narendra Modi and reveal plans to penetrate the South Asian market.

According to a document seen by Reuters on Monday, the electric vehicle manufacturer was letting go of almost 10% of its global workers.

Reuters revealed earlier this month that the EV manufacturer had cancelled a long-promised low-cost vehicle, estimated to cost $25,000, that investors had been hoping would spur mass-market expansion.

The manufacturer of electric vehicles (EVs) said this month that, due to a lacklustre response to price reductions, global vehicle deliveries declined in the first quarter for the first time in almost four years.

Tuesday is Tesla's first-quarter earnings release.