Unfortunately, this measure only applies (for now) to the domestic market of the United States of America. Nevertheless, it is a clear sign of the intention of the brand led by Elon Musk to make its electric cars more accessible to the large market.
After successive price reductions, the American brand is lowering the price of its electric vehicles again, the Model 3 and Model Y, to be more competitive. It is worth noting that, for now, this measure does not apply to Portugal.
Prices have dropped again for the Model 3 and Model Y vehicles.
However, they are a good apparent sign of the fiscal health of the company, whose quarterly results confirm this. Sales of its electric vehicles continue to increase, while production follows the same pace and global trend of growth.
As a result, Tesla can optimize production costs, scaling various services, and thus lower the selling price to the public. In fact, the company has been presenting increasingly healthy results, which is also reflected in the manufacturer’s profits.
That being said, currently on the Tesla website (and store), the Model 3 starts at $38,990, down from the previous $40,240. At the same time, the Model 3 Long Range version is now listed at $45,990. In practice, below the $47,240.
We also have the Model 3 Performance now priced at $50,990, down from $53,240. Finally, the company’s SUV, the Model Y Performance, dropped from $54,490 to $52,490.
It is important to emphasize once again that this significant price reduction only applies in the United States of America. However, there is a good probability that these new values will also be replicated in Europe due to the brand’s growth.
The noticeable trend of adopting electric vehicles over combustion engine cars, combined with the quality of Tesla vehicles, has allowed the manufacturer to surpass traditional carmakers. Now, with another price reduction, the values become even more competitive and will undoubtedly result in increased sales.
Nevertheless, these are granular price reductions compared to the cuts applied in the previous September for the Model S and Model X, which were around 20%. In addition, we also recall the previous cuts in March of this year, with the Model X dropping around $10,000 compared to previous values.
In summary, since the end of 2022, Tesla has been revising its pricing policy in different models and operating sectors. All in order to face the strengthened competition in the market and the global market contraction.
Step by step, small changes and price adjustments like the ones reported here have made Tesla so competitive in this electric vehicle market. Lastly, we believe that these changes will also be reflected in the Portuguese reality in the future, when they arrive at the store in Portugal.
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