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Tesla cuts prices of base variants of Model 3, Model Y

Published 02/18/2021, 12:35 AM
Updated 02/18/2021, 06:35 AM
© Reuters. FILE PHOTO: A Tesla logo hang on a building outside of a Tesla dealership in New York

© Reuters. FILE PHOTO: A Tesla logo hang on a building outside of a Tesla dealership in New York

(Reuters) - Tesla (NASDAQ:TSLA) Inc has reduced the price of its cheaper variants of the Model 3 sedan and the Model Y sports utility vehicle (SUV), while raising prices for their performance variants, the electric-car maker's website showed.

The price of its Model 3 Standard Range Plus has been lowered to $36,990 from $37,990, while the Model Y Standard Range's price came down to $39,990 from $41,990, according to the website.

The carmaker has been making various models in its lineup more affordable at a time when legacy automakers are trying to make inroads in the electric vehicle market.

The standard range of the Model Y was launched in January, bringing its SUV's price closer to that of the Model 3 sedan, the electric-car maker's least expensive car.

The prices for the Performance variant of the Model 3 rose to $55,990 from $54,990 and Model Y to $60,990 from $59,990, the website showed.

© Reuters. FILE PHOTO: A Tesla logo hang on a building outside of a Tesla dealership in New York

The price cuts come as Tesla looks to ramp up its deliveries. Overall, the company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles.

Latest comments

Tesla should go to 10,000 on this news
nothing says success as a price reduction to see who will finally buy your product
Riiiiight...  Its a demand issue   *rolls eyes*
These price changes are notable, headline worthy, and increasing the addordability of the vehicle..............
the base price is irrelevant. no one buys it. they charge 10k more for the options people want. in fact if you want the base model you are at the back of the line for delivery because they dont make money on it.
tesla is the ev leader it is 20 years in front of its competitors
ya u are right. their car no need batteries. runs on solar.
M3 LR owner and yes for the cost of options, you could buy an entry level elsewhere...
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