Tesla cut the price of some Model 3 and Model Y versions in the U.S. after the company reported third-quarter deliveries that missed market expectations.
The starting price for the Model 3 is listed at $38,990 on Tesla’s website, down from $40,240 previously. The long range Model 3 fell from $47,240 to $45,990. And the Model 3 Performance fell to $50,990 from $53,240.
Tesla’s Model Y Performance sports utility vehicle now starts at $52,490, down from a previous price of $54,490.
Beginning at the end of last year, Tesla began cutting the prices of its cars across the world in a bid to stoke demand amid concerns over slowing consumer spending in markets like the U.S. and China and as competition in the electric vehicle space ramped up.
Tesla isn’t the cheapest but “much less” is inaccurate, especially once the tax credit (at least in the US) comes into play and as you try to find like-for-like range and features.