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Tesla Slashes Prices of Model Y, X, and S

In a bid to attract more buyers, Tesla has slashed prices for its Model Y, Model X, and Model S vehicles in the United States. The latest round of reductions sees a $2,000 (Rs. 556,252) drop in the starting prices of these popular models.

The decision to slash prices comes amidst a series of challenges faced by Tesla, including a recall of Cybertrucks due to potential accelerator pedal issues, reports of layoffs affecting around 10 percent of its workforce, and a noted decline in deliveries during the first quarter.

Specifically, the updated pricing now positions the base model of the Model Y at $42,990 (Rs.11,956,649), catering to buyers seeking a more affordable entry point into Tesla’s electric SUV lineup. The Long Range variant of the Model Y is now priced at $47,990 (Rs. 13,347,281), offering extended range capabilities, while the Performance model comes in at $51,490 (Rs. 14,320,723), targeting enthusiasts seeking enhanced performance attributes.

For the Model S lineup, the base model now starts at $72,990 (Rs. 20,300,438), reflecting a price reduction that aims to broaden its appeal to potential buyers. Meanwhile, the high-performance Model S Plaid variant is now available for $87,990 (Rs. 24,472,333), catering to consumers seeking top-tier performance and technology features.

Similarly, the Model X, Tesla’s electric SUV offering, has seen its base model price drop to $77,990 (Rs. 21,691,070), with the Plaid version now starting at $92,990 (Rs. 25,862,964). These adjustments aim to make Tesla’s premium electric vehicles more accessible to a wider range of consumers while maintaining the company’s competitive edge in the market.

In tandem with the price cuts, Tesla has announced the discontinuation of its referral program benefits across all markets, effective after April 30. This decision marks a shift in Tesla’s marketing strategy, as the referral program has historically incentivized existing customers to refer new buyers by offering various rewards and benefits.

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