Elon Musk-owned Tesla has drastically lowered 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, reports Engadget
Moreover, the 5-seat Model Y Long Range’s price decreased 20 per cent from $65,990 to $52,990
As a result, the latter model is now eligible for the $7,500 US Federal Tax Credit, resulting in a final price reduction of $20,500 which is more than 30 per cent
Price reductions were made to other models too, including the performance versions of the Model 3 and Model Y, and the regular and plaid versions of the Model S and Model X
However, the Model Y’s 7-seat option has increased in price by $1,000 to $4,000
In Germany, Model 3 and Model Y prices were decreased by one to 17 per cent and also dropped in Austria, Switzerland and France
Customers must place their orders before mid-March, when it is expected that the rebate would be reduced to half, in order to receive the full $7,500