Tesla again cuts EV prices in US

SAN FRANCISCO: Elon Musk-owned Tesla has slashed the prices of its EVs across its lineup in the US for the second time, which might be in an effort to boost sales before the end of the quarter.

According to TechCrunch, the company has lowered the prices of its Model S sedan and Model X SUV.

The Model S all-wheel drive is now available for $89,990, which is down 5.2 per cent or about $5,000 from $94,990, while the Model S Plaid is now at $1,09,990, down 4.3 per cent from $1,14,990.

In addition, the Model X all-wheel drive is now available for $99,990, down 9.1 per cent or $10,000 from $109,990, while the Plaid is now priced at $1,09,990, down 8.3 per cent from $1,19,990, the report said.

In January, Tesla drastically lowered the prices of EVs across its lineup in the US and Europe, in an effort to boost sales as its stock plummeted more than 60 per cent.

The least expensive EV, the Model 3 RWD, has dropped from $46,990 to $43,990, while the Model Y Long Range's price decreased 20 per cent from $65,990 to $52,990.

Price reductions were made to other models too, including the performance versions of the Model 3 and Model Y, and the plaid versions of the Model S and Model X.