Tesla Reduces US Prices of Models Y, X, S by $2,000

Tesla Car

Tesla slashed the prices of its Model Y, Model X, and Model S vehicles in the U.S. by $2,000 each following lower-than-expected first-quarter deliveries.

The base variant of the Model Y is now priced at $42,990, with long-range and performance variants at $47,990 and $51,490, respectively.

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

Additionally, Tesla North America announced the discontinuation of its referral program benefits across all markets after April 30. This program, which incentivizes buyers through referrals from existing customers, is a tactic commonly employed by traditional automakers to stimulate sales.

Elon Musk postponed his planned trip to India, where he intended to meet Prime Minister Narendra Modi and unveil plans for entering the South Asian market. Thegistarena reported that more than 10% of Tesla’s global workforce would be laid off, citing an internal memo.

Earlier, it was also reported that Tesla had scrapped a long-promised affordable car, expected to be priced at $25,000, which investors had anticipated would drive mass-market growth.