- Tesla has slashed the prices of the Model 3, the Model S, and the Model X.
- The Model 3 will now start at $US35,000, the company said in a blog post on Thursday.
All three of Tesla’s vehicles got a price cut on Thursday.
“Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $US35,000 Model 3 price point earlier than we expected,” the company said in a blog post.
Shares fell about 4% overnight into Friday morning as Wall Street investors digested the new outlook for Tesla’s finances.
Tesla said the Model 3 would now start at $US35,000. Here are the details of the Model S and Model X price cuts:
- Standard Range: unchanged, at $US79,000 before incentives like state-specific tax rebates and gas savings.
- Long Range: now $US83,000 before incentives (previously $US96,000).
- Performance: now $US99,000 before incentives (previously $US112,000).
- Ludicrous Mode: now $US114,000 before incentives (previously $US132,000).
- Long Range: now $US88,000 before incentives (previously $US96,000).
- Performance: now $US104,000 before incentives (previously $US117,000).
- Ludicrous Mode: now $US119,000 before incentives (previously $US137,000).
- More from Tesla’s big announcement:
- Tesla is shuttering most of its stores as the company switches to an online-only sales model
- Tesla has changed its Autopilot package – customers now have to pay more for some features
- More layoffs expected at Tesla as the company shutters most of its retail stores
- Elon Musk says Tesla will probably not be profitable in the first quarter of 2019
- Tesla’s $US35,000 Model 3 is coming – here’s what Wall Street is saying
- Tesla stock slides after Elon Musk warns it won’t be profitable in Q1
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