Tesla reduced the prices of its Model Y, Model X, and Model S vehicles in the US by $2,000 each following lower-than-expected first-quarter deliveries, Reuters reports.
The base variant of the Model Y now costs $42,990, while the long-range and performance variants are priced at $47,990 and $51,490, respectively. The basic version of the Model S is now priced at $72,990, and the plaid variant at $87,990. The Model X base variant costs $77,990, with its plaid variant priced at $92,900, according to its website.
Tesla is also reportedly laying off more than 10% of its global workforce, and it recently canceled its long-promised inexpensive car expected to cost $25,000. Additionally, Tesla announced the end of its referral program benefits in all markets after April 30, a program that offered extra incentives through referrals from existing customers.
Tesla CEO Elon Musk’s planned trip to India, where he was to meet Prime Minister Narendra Modi and announce market entry plans, has been postponed. This comes after the EV maker reported its first decline in global vehicle deliveries in nearly four years, despite previous price cuts to stimulate demand.
