Tesla cuts prices after massive Cybertruck recall

Tesla cuts prices after massive Cybertruck recall

Tesla has announced significant price cuts for several of its models, including the Model Y, Model S, and Model X, each of which has a $2,000 drop in the US. The price adjustment comes amid several setbacks for the company, including Manpower reductionExecutive Departure, Legal challenges related to CEO Elon Musk's compensationAnd Held projects, As reported by Electrek.com.

Model 3 or the decision to lower prices The recently recalled Cybertruck. However, this is consistent with the pattern observed last quarter when Tesla temporarily discounted its popular Model Y in response. Disappointing delivery results and increasing inventory levels. This price reduction returns the Model Y to its lowest recent price point, which is equal to Temporary discount It was first presented in February.

It also appears that Tesla is ending its referral program starting on April 30th. However, Musk has said that this program Relaunched in the future..

The new starting price for the Model Y RWD is now $42,990, down from $44,990. Other trims, including the Long Range and Performance models, saw a similar drop of $2,000, bringing them to $47,990 and $51,490, respectively.

The more upscale Model S and Model X also enjoy a $2,000 discount, with the Model S now starting at $72,990 and the Model X at $77,990. The reduction marks the lowest price point for the Model X, which also qualifies for federal tax credits, potentially further lowering its initial cost.

Electrek notes that Tesla hasn't labeled these reductions as “temporary” — suggesting a possible strategic shift in pricing. The cuts come at a time when Tesla is also promoting a new lease offering. Model 3 At the low rate of $299 per month, down from $329.

The series of price adjustments appears to be a response to various internal and external pressures facing Tesla, which aims to boost sales and address stock issues amid ongoing challenges.

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