Tesla has expanded price cuts it started in China to Europe and the U.S., slashing EV costs by as much as 20 per cent. Read on.
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The U.S. price cuts, announced late Thursday on its global top-sellers the Model 3 sedan and Model Y crossover SUV, were between six per cent and 20 per cent, Reuters calculations showed.Article contentThat is before an up to US$7,500 federal tax credit that took effect for many electric vehicle models at the start of January.Tesla also cut prices for its Model X luxury crossover SUV and Model S sedan in the United States.
Before the price cut, the five-seat version of the Model Y had been ineligible for that credit, a designation Musk called “messed up.” After the price cut, the long-range version of the Model Y will qualify. Still shares in U.S. pre-market trading were lower, as investors worried the move might erode bumper margins, particularly as competition intensifies.
“Just reducing 10,000 euros like that — definitely makes you feel that you just paid far too much,” one user wrote on a ‘Tesla Drivers and Friends’ forum.Article content
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