Tesla Drops Prices on Model S, Y, and X

Jawad

22 Apr 2024

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Tesla Drops Prices on Model S, Y, and X

In a move aimed at enticing increased customer interest, Tesla has implemented price reductions across its range of Model Y, Model X, and Model S automobiles in the United States. This latest initiative entails a reduction of $2,000 (Rs. 556,252) from the initial prices of these sought-after models.

The choice to lower prices comes amidst a slew of challenges confronting Tesla, such as the recall of Cybertrucks due to potential accelerator pedal issues, reports of workforce layoffs affecting approximately 10 percent of its employees, and a noticeable decline in deliveries during the first quarter.

Specifically, the revised pricing structure now sets the entry-level Model Y at $42,990 (Rs. 11,956,649), appealing to buyers in search of a more economical introduction to Tesla’s electric SUV lineup. The Long Range iteration of the Model Y is now listed at $47,990 (Rs. 13,347,281), offering extended range capabilities, while the Performance variant is priced at $51,490 (Rs. 14,320,723), targeting enthusiasts seeking enhanced performance attributes.

As for the Model S range, the base model now commences at $72,990 (Rs. 20,300,438), reflecting a price decrease intended to broaden its appeal to potential purchasers. Meanwhile, the high-performance Model S Plaid variant is now obtainable for $87,990 (Rs. 24,472,333), catering to consumers desiring top-tier performance and technological features.

Likewise, the Model X, Tesla’s electric SUV offering, has witnessed a reduction in its base model price to $77,990 (Rs. 21,691,070), with the Plaid version now starting at $92,990 (Rs. 25,862,964). These adjustments are aimed at enhancing accessibility to Tesla’s premium electric vehicles for a broader consumer base while upholding the company’s competitive position in the market.

In conjunction with the price cuts, Tesla has disclosed the discontinuation of its referral program benefits across all markets, effective following April 30. This strategic decision marks a departure in Tesla’s marketing approach, as the referral program has historically incentivized existing customers to refer new buyers through various rewards and incentives.

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