Tesla slashes Model 3 and Model Y base prices, raises them for higher-end variants
Tesla hopes to boost sales in Q1By Cohen Coberly 8 comments
What just happened? Tesla has done pretty well lately, managing to deliver nearly 500,000 vehicles in 2020. However, it isn't leaving well-enough alone: to boost sales even further, the carmaker has slashed the prices of both the Model 3 and Model Y's basic variants.
The price cuts aren't significant, especially compared to previous mark-downs from Tesla, but they might just be enough to drive a few extra sales. According to Reuters, the Standard Range Plus Model 3 has been reduced in price from $37,990 to $36,990, which is a fairly modest discount.
The Standard Range Model Y, on the other hand, has gotten a slightly more significant price cut of $2,000. That brings the upfront cost to $39,990, down from $41,990.
Unfortunately, the higher-end versions of the Model Y and 3 are not receiving the same deductions – quite the opposite. The Performance Model Y and 3 variants will each cost $1,000 more moving forward, bringing prices to $60,990 and $55,990, respectively.
Tesla hasn't explained either of these decisions, and it probably won't do so anytime soon. The company chose to entirely eliminate its PR department last year, so as much as we'd like a bit more clarity here, we'll simply have to assume the price tweaks are an attempt for Tesla to maintain a slight edge over the increasing number of competitors it now faces.