Tesla slashes EV prices by as much as six percent in North America

Shawn Knight

Posts: 12,305   +120
Staff member

Tesla has slashed the price of its electric vehicles by as much as six percent in North America due to waning demand caused by the ongoing Covid-19 pandemic.

The Tesla Model S sedan now starts at $74,990, a decrease of $5,000 from the previous $79,990 asking price. The Model X SUV, meanwhile, is down to $79,990 from $84,990, and the entry-level Model 3 sedan now starts at $37,990, down from $39,990. The new Model Y is the only vehicle in the company’s lineup that didn’t get a price cut.

According to Reuters, the automaker also trimmed prices on the Model X and Model S in China, by roughly four percent. Locally-made Model 3 vehicles will not see a price cut, Tesla China said in a recent Weibo post.

Reuters cites data from J.D. Power suggesting retail auto sales in the US may have fallen by as much as half in April compared to the same period a year earlier. Figures are expected to improve this month, however, due to pent-up demand, the easing of stay-at-home orders and incentives offered by manufacturers.

Image credit: Ivan Marc, Tudoran Andrei

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Uncle Al

Posts: 7,085   +5,445
With the reported prices of electric pick up trucks starting at $25,000 for Fords and Chevy's with the upper end around $50,000 for models that have a range of 400 miles, Musk better hope SpaceX continues to succeed because his cars just might take a serious dip .....
 

VitalyT

Posts: 4,966   +3,821
TechSpot Elite
With the reported prices of electric pick up trucks starting at $25,000 for Fords and Chevy's with the upper end around $50,000 for models that have a range of 400 miles, Musk better hope SpaceX continues to succeed because his cars just might take a serious dip .....
Don't hold your breath. Ford just recently pulled back from its Rivian investment, indicating a grim development within Ford's EV department.

I think we are not gonna see anything from Ford or Rivian this year.

 
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mctommy

Posts: 341   +77
With the reported prices of electric pick up trucks starting at $25,000 for Fords and Chevy's with the upper end around $50,000 for models that have a range of 400 miles, Musk better hope SpaceX continues to succeed because his cars just might take a serious dip .....
The whole car industry is going to take a dip.

$25k pickup trucks?!? When do you see that happening? Ford has only 1 full-ev car slated for 2021 and they just pulled the plug on the Rivian-based EV. Even then, that was for the Lincoln line (luxury)... so I ask the question, when will you see these $25k pickup trucks?
 

Arbie

Posts: 56   +57
Welcome to journo-speak. "Slashes" is much more clicky than plain old "cuts", or "lowers". Never mind the reader fatigue from parsing through what's important and what's not. So now every price reduction is a slash. Soon that will be too mild and we'll move to "eviscerates" or some such.

 

trgz

Posts: 304   +87
As it has been pointed out, and just to reiterate, I think that the use of the word 'slash' hasn't really been used wisely in this case. The term 'click bait' could however might well be used for your article ;-)