Tesla Cuts U.S. Prices for 6th Time in 2023

Tesla ($TSLA@US) cut prices for its Model 3 and Model Y electric vehicles in the U.S., making it the 6th price cut for the year as the EV automaker prepares to release its quarterly results on Wednesday. According to the company website, prices for its Model Y “long-range” and “performance” vehicles fell by $3,000 each, and its Model 3 “real-wheel drive” fell by $2,000. Tesla has cut U.S. prices of its base Model 3 by 11 percent and its base Model Y by 20 percent so far this year. While Tesla saw a 4 percent sequential rise in deliveries in the first quarter, it is significantly less than the 17.8 percent sequential rise in the fourth quarter.