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In a desperate attempt to stimulate sales and prop up a stock price dropping like a rock, Elon Musk’s Tesla has reduced the prices of three of its five models in the United States.that late Friday, Tesla announced significant price cuts for its Model Y, S, and X vehicles in the U.S. market.
Elon Musk, chief executive officer of Tesla Inc., speaks via video link during the Qatar Economic Forum in Doha, Qatar, on Tuesday, June 21, 2022. Photographer: Christopher Pike/BloombergThe Model Y, Tesla’s most popular model and the top-selling electric vehicle in the U.S., saw its starting price reduced to $42,990. The company also lowered the prices of its older and more expensive models, with the Model S now starting at $72,990 and the Model X at $77,990.
Tesla CEO Elon Musk took to social media platform X to highlight what he claims is the affordability of entry-level Teslas. He stated that when considering federal tax credits and gas savings, the cost of an entry-level Tesla could be as low as $29,490. Industry analysts have been anticipating the introduction of a smaller, more affordable Tesla model, dubbed the Model 2, with a projected price of around $25,000. Recent media reports suggesting that Musk planned to scrap the project have created uncertainty about the company’s future direction, although Musk has denied these claims.
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