Tesla cuts prices on two models in the US

US electric vehicle manufacturer Tesla has reduced prices on some Model 3 and Model Y vehicles in the US following a decline in vehicle deliveries in the third quarter.

According to the price lists on the company's website, Tesla has implemented price cuts of up to 2,250 dollars for the Model 3 and up to 2,000 dollars for the Model Y.

The starting price of the Model 3 was reduced from 40,240 dollars to 38,990 dollars, while the price of the long-range version was lowered from 47,240 dollars to 45,990 dollars, and the performance version from 53,240 dollars to 50,990 dollars.

The price of the performance version of the Model Y was also reduced from 54,490 dollars to 52,490 dollars.

It is noteworthy that Tesla's latest price cuts follow the decline in the company's vehicle deliveries in the third quarter.

The electric vehicle manufacturer announced earlier this week that 435,059 vehicles were delivered in the third quarter. While the company's delivery numbers for this period fell short of market expectations, they also recorded a 7 percent decrease compared to the previous quarter.

Tesla began cutting car prices globally at the start of the year to stimulate demand amid concerns over slowing consumer spending in markets like the US and China, as well as increasing competition in the electric vehicle sector.

News Source: AA