Tesla has cut prices for some of its Model Y and Model 3 vehicles in the US, the sixth time the company has made such a move this year as it looks to spur demand even at the cost of its industry-leading profit margins. The cuts came ahead of the electric-vehicle maker's first-quarter earnings due on Wednes
Tesla has cut prices for some of its Model Y and Model 3 vehicles in the US, the sixth time the company has made such a move this year as it looks to spur demand even at the cost of its industry-leading profit margins.
Tesla's website showed late on Tuesday that it cut prices of its Model Y"long range" and"performance" vehicles by US$3000 each and of its Model 3"rear-wheel drive" by US$2,000 to US$39,990. It also recently lowered prices in Europe, Israel and Singapore, as well as in Japan, Australia and South Korea, expanding a discount drive it started in China in January.
That has prompted several analysts to predict more price cuts as competition rises at home from rivals such as Ford Motor Co and Tesla plays catch-up with BYD in China, its second-largest market.
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