Tesla cuts US prices of Models Y, X, S $2K USD
Tesla (TSLA.O), opens new tab cut the U.S. prices of its Model Y, Model X and Model S vehicles by $2,000 each on Friday, days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations.
Elon Musk’s electric-vehicle (EV) maker lowered the prices for its Model Y base variant to $42,990, while the long-range and performance variants are now priced at $47,990 and $51,490, respectively, according to its website.
Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.
On Monday Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.
Earlier this month Reuters reported the EV maker had canceled a long-promised inexpensive car, expected to cost $25,000, that investors had been counting on to drive mass-market growth.
The EV maker reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.
Tesla is to report first-quarter earnings on Tuesday.
