Tesla drops prices up to 20 percent in attempt to drive sales
Enlarge / Can big price cuts stop Tesla's share price slide? More of its cars now qualify for US tax credits, at least. (credit: Ethan Miller/Getty Image)
At a time when every other automaker is having trouble building enough electric vehicles to satisfy demand, Tesla is seemingly having the opposite problem. Overnight, the Texas-based automaker slashed prices by thousands of dollars for some models in an effort to spur demand. Earlier this month, the company's share price-which had already slumped by 70 percent in 2022-was further affected when Tesla announced it had missed its annual production goal by 20 percent.
Now, the cheapest Tesla you can buy-the Model 3 RWD-has dropped to $43,990, a $3,000 savings compared to 2022's prices. The Model 3 Long Range is currently unavailable, but the Model 3 Performance is $9,000 cheaper than before, at $53,990.
You can still buy a Model Y Long Range from Tesla, and in five-seat configuration, it's now $12,000 cheaper than yesterday, at $53,990. An even bigger discount applies to the Model Y Performance, which is now $13,000 cheaper, at $56,990. Adding a third row of seats to either of these Teslas carries a $4,000 premium.