Tesla cuts cost of all electric cars by $1000-5000

Tesla has once again reduced the price of each of its electric cars (Model 3, Model S, Model X and Model Y). The maximum discount reaches $5000.

Here's What We Know

Tesla announced record shipments of cars this week - more than 422,000 units in the quarter. One of the reasons was the cost reduction. Elon Musk's company has adjusted prices four times since the start of 2023.

Tesla wants to sell 1.8-2 million electric cars during the current year. The company will have to keep lowering costs to reach its target. This caused fears among investors, after which the manufacturer's shares fell by 6%.

It didn't take long to wait for another price adjustment. This is due to stricter rules for the tax deduction. The Model 3 has fallen by $1,000 and the Model Y has fallen in price by $2,000. Prices for the more expensive Model S and Model X are down $5000.

Source: Reuters