Teh One Who Knocks
01-13-2023, 12:28 PM
By Ken Martin | FOXBusiness
https://i.imgur.com/Chgip3o.png
Tesla's recent round of price cuts now involves vehicles sold in the U.S.
The electric automaker has reportedly cut prices on some models by nearly 20%, according to the Wall Street Journal.
The move is seen as a way to grab new buyers at a time Wall Street is concerned appetite for the vehicles is weakening.
The cuts are likely to allow some buyers to qualify for a $7,500 U.S. government tax credit.
Elon Musk's car company slashed the price of its baseline Model Y crossover by almost 20% to $52,990. That puts the vehicle below a $55,000 cap, making it eligible for the tax incentive.
A 14% cut brings the price of a high-performance version of its Model 3 sedan to $53,990, also putting it under the cap.
The Model 3 and Model Y are Tesla’s bestselling vehicles.
https://i.imgur.com/6rAT9Hf.png
The company also lowered prices for its Model S luxury sedans and Model X sport-utility vehicles.
https://i.imgur.com/oXr7HQY.png
FOX Business has reached out to Tesla for comment.
Tesla cut prices on vehicles in China a week ago, after sales there plunged in December.
Musk suggested last month that the higher interest-rate environment was hurting demand.
Tesla delivered about 1.31 million vehicles last year, up roughly 40% from 2021, but short of the company's target of 50% or more.
Shares of Tesla fell about 65% in 2022.
https://i.imgur.com/Chgip3o.png
Tesla's recent round of price cuts now involves vehicles sold in the U.S.
The electric automaker has reportedly cut prices on some models by nearly 20%, according to the Wall Street Journal.
The move is seen as a way to grab new buyers at a time Wall Street is concerned appetite for the vehicles is weakening.
The cuts are likely to allow some buyers to qualify for a $7,500 U.S. government tax credit.
Elon Musk's car company slashed the price of its baseline Model Y crossover by almost 20% to $52,990. That puts the vehicle below a $55,000 cap, making it eligible for the tax incentive.
A 14% cut brings the price of a high-performance version of its Model 3 sedan to $53,990, also putting it under the cap.
The Model 3 and Model Y are Tesla’s bestselling vehicles.
https://i.imgur.com/6rAT9Hf.png
The company also lowered prices for its Model S luxury sedans and Model X sport-utility vehicles.
https://i.imgur.com/oXr7HQY.png
FOX Business has reached out to Tesla for comment.
Tesla cut prices on vehicles in China a week ago, after sales there plunged in December.
Musk suggested last month that the higher interest-rate environment was hurting demand.
Tesla delivered about 1.31 million vehicles last year, up roughly 40% from 2021, but short of the company's target of 50% or more.
Shares of Tesla fell about 65% in 2022.