Tesla Inc. TSLA is streamlining its product line and tweaking the prices of its electric vehicles in a bid for another jolt following strong second-quarter sales results.
The electric carmaker said its mass-market Model 3 will now come with a lower price tag of $38,990.
The starting price of a couple of other Teslas will be a bit higher, as the company is dropping basic versions of the Model X SUV and the Model S sedan, and will offer only the pricier long-range and performance versions of the vehicles.
While Tesla is lowering the price for those versions from current levels, they’ll still cost more than the basic models that are being dropped.
The move follows the company’s strong sales report earlier this month. Deliveries of the three Tesla vehicles were up 51% from the previous quarter, with the company’s signature Model 3 accounting for around 80% of sales.
Tesla has said it expects production and sales to continue to grow in the third quarter.
Tesla is expected to report second-quarter financial results July 24.
Price Action
Tesla shares were dropping by 0.83% at $251.40 at the time of publication Tuesday.
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Photo courtesy of Tesla.
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