Tesla recently dropped the costs of their electric cars for the third time this year. That’s three times they made these cars cheaper!
Tesla has now made some of their cars cheaper. The Model S and Model X now have up to $5,000 off the regular price while the Model 3 has a $1,000 discount. The new base model of the Model Y is now starting at $49,990 meaning it is effectively $3,000 cheaper than before when the least expensive version was the Long Range version at $52,990 which still hasn’t changed in price.
In the beginning of the year, Tesla cut some of its prices by up to 20%. Then, in March Tesla made another big change by lowering the price of both Model S and Model X by as much as $10,000. This is a totally different from what happened in 2022 when Tesla kept increasing it’s prices multiple times. Even though we don’t know why Tesla just did this price drop, the fact remains that it has been done!
At the start of 2023, Tesla reported that they had delivered 422,875 vehicles which was 4% higher than the previous quarter and 36% higher compared to a year ago. This also means that Tesla had shipped more cars in the past two quarters than they were actually able to sell. In other words, over a period of four quarters (one calendar year) Tesla made 78,000 more cars than what they sold.
Tesla is making more cars every year. They have 3 main factories – one in California, another in Texas, and a third one in Shanghai. In 2022 they are going to open another factory in Germany.
Back in February, people thought the prices of electric vehicles (EV) would drop, but so far, this hasn’t happened that much apart from the Ford Mustang Mach-E. The most recent change for this car was a reduction in price of up to $5,900 in January. However, Ford has recently increased the cost of its F-150 Lightning pickup truck for the fourth time.