Tesla Cuts EV Prices AGAIN – What You Need to Know!

Tesla has reduced the prices of its electric vehicles in the US for the fifth time in slightly more than three months. The entire range has seen a reduction of up to 6%. The latest price cut has made the 2023 Model 3 more affordable by $1,000, and it now has a starting price of $41,990 as per Tesla's website.

If you're looking for the best deals, higher-end configurations have even bigger discounts. Both the Model Y Long Range and Performance models are now $2,000 cheaper, with prices of $52,990 and $56,990, respectively. The Model S and Model X have also seen significant price drops this year, with starting prices of $84,990 and $94,990 after an extra $5,000 discount. The base Model S has seen a $20,000 price reduction since 2022, while the Model S Plaid is now over $25,000 cheaper than just a few months ago.

Tesla announced that it has successfully delivered nearly 423,000 electric vehicles (EVs) during the first quarter of 2023, resulting from the initial waves of price reductions implemented in various countries including China and the US. This achievement is a company record, with a four percent increase in deliveries compared to the previous quarter. However, the analysts' estimates were not met by Tesla, and based on the first-quarter figures, the company is not on track to deliver its target of 1.8 million EVs this year.

Although the price cuts could potentially increase demand and make Tesla more competitive in the crowded sector, analysts have pointed out that the discounts may negatively affect the company's profit margins, as the relatively small increase in deliveries may not offset the costs of the reductions.