Skip to main content

Market Overview

Tesla Slashes Prices Of Model 3, Model Y Base Variants

Share:
Tesla Slashes Prices Of Model 3, Model Y Base Variants

Tesla Inc (NASDAQ: TSLA) has slashed the prices of the base models of its Model 3 and Model Y vehicles. 

What Happened: Previously, the Standard Range Plus Model 3 sold for $37,990 and is now priced $1,000 cheaper at $36,990.

The Model 3 Performance (AWD) will now sell for $55,990 and was previously priced at $54,990. 

There is no change to the price of the Model 3 Long Range (AWD), which continues to be sold for $46,990. 

As for the Model Y trims — the Model Y Standard Range sees its price drop by $2,000 to $39,990. There is no change in the price of the Model Y Long Range (AWD).

See also: How to Invest in Tesla Stock

The Model Y Performance (AWD) will now cost $60,990 and was previously priced at $59,990, which is a price hike of $1,000.

Why it Matters: In January, Tesla cut prices of its European Model 3. In Germany, the Model 3 became cheaper up to EUR 4,000, and in France by as much as EUR 6,000. 

At the end of last year, it was reported that the Elon Musk-led company is unlikely to cut Model 3 prices in China

In China, Tesla made five price cuts between October 2019 and October 2020. 

Price Action: Tesla shares closed nearly 0.2% higher at $798.15 on Wednesday and fell about 0.6% in the after-hours session.

Related Link: Tesla Denies Development Of $25,000 Model 2 Vehicle In China: cnEVpost

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news.

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: electric vehicles Elon Musk EVs Tesla Model 3 Tesla Model YNews Events Tech Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com