Price Cuts for Tesla Cars in North America and China

Price Cuts for Tesla Cars in North America and China

Tesla has announced price cuts for its electric vehicles by thousands of dollars in North America, and is going to do the same in China, according to Electrek and Reuters.

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According to these publications, the automaker is lowering its prices across its line-up following a decline in sales that is industry-wide, as well as a demand caused by the coronavirus pandemic. The biggest price cut is coming to the company’s more expensive models, the Model S and Model X, which are being cut by $5,000 off its original price.

The Model S Long Range Plus EV, which was originally listed at $79,990, is now at $74,990, with the Performance version coming in at $94,990. The Long Range version of the Model X is now $79,990, also $5,000 less than its original purchase price. The Model 3 received a more modest reduction of $2,000, going from $39,990 to $37,990. The Model Y price has remained unchanged.

According to Reuters, Tesla apply price cuts to its Model S and Model X prices by about 4% in China, however, it will not reduce the price of its China-made Model 3 EV’s.

This news does come with some bad news though, as Tesla announced its Model S sedans and Model X SUV’s will no longer come with free access to the company’s Supercharger service.

Tesla announces price cuts for almost all car models.
Tesla has cut the prices of most models.

Just as was the case with many other companies, production for Tesla had to be shutdown due to the coronavirus pandemic. However, Elon Musk, the company chief, chose to defy the Alameda County lockdown orders in order to restart the production as their Fremont factory.

Known for their dedication to electric vehicles, rather than using gas, Tesla has seen a stark decline in sales, just as other companies have seen. However, Musk is dedicated to seeing the company make a recovery from this drop, for better or for worse.

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