Tesla cuts prices for select car models in US

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Public TV English
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NEW DELHI: Tesla cut the US prices of its Model Y, Model X and Model S vehicles by $2,000 each this week, days after the first-quarter deliveries of the automaker missed market expectations, reported Reuters.

The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years as price cuts failed to stir demand.

The Elon Musk-run automobile company lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website, reported Reuters.

The basic version of the Model S now costs $72,990 and its plaid variant $87,990. The Model X base variant now costs $77,990 and its plaid variant is priced at $92,900.

As per the news report, Tesla North America also said in a post on X that it would end its referral programme benefits in all markets after April 30. Referral programme allows buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales.

Meanwhile, Musk has postponed a planned trip to India, where he was to meet Prime Minister Narendra Modi and announce plans to enter the huge Indian market.

Earlier this week, citing an internal memo, Reuters reported that the EV maker was laying off more than 10 per cent of its global workforce. Tesla is to report first-quarter earnings on Tuesday, as per Reuters. (ANI)

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