Monitoring Desk
ISLAMABAD/CALIFORNIA: Tesla Inc. has cut prices of its two expensive electric vehicles in the United States (US), according to the Tesla company’s website, days after Elon Musk, Chief Executive, said price cuts on other models had stoked demand.
The car price cuts, Tesla’s fifth adjustment since the beginning of 2023, ranged from 4 percent on the performance version of the Model S to 9 percent on the more expensive Model X.
Elon has said that in recent months, Tesla’s company focused on bringing vehicle prices down to drive demand, and it had seen success in sparking orders with world discounts introduced in January.
Musk said previous week at Tesla‘s investor day that “the desire for people to own a Tesla company is extremely high. The limiting factor is their ability to pay for a Tesla,”
Tesla didn’t respond to the request for comment on the most recent price cuts.
Tesla slashed prices
Tesla company slashed prices on its vehicles across all its markets in January 2023, offering discounts of up to 20 percent in what several analysts saw as the beginning of a price war by the electric cars market leader.
It has been adjusting prices since the pace and frequency go beyond what established automakers have attempted in the industry, where a vehicle’s base price is still referred to as the “sticker price” on a car in inventory.
The Model X and Model S, which come in base all-wheel drive and performance “Plaid” editions, represented about 4% of Tesla’s world deliveries in 2022. Its two cheaper car models, the Model 3 sedan and the Model Y crossover made up the rest.
