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Tesla cuts base Model 3 and Model Y prices in an effort to boost sales

North America

The US automaker is making various models in its lineup more affordable at a time when competitors are trying to invade the electric vehicle market.

Tesla cuts base Model 3 and Model Y prices in an effort to boost sales

American automaker Tesla Inc has slashed prices for its base Model 3 sedan and Model Y SUV, while raising prices for its advanced modifications, according to the electric vehicle manufacturer's website.

The Model 3 Standard Range Plus has dropped to $ 36,990 from $ 37,990, while the Model Y Standard Range has dropped to $ 39,990 from $ 41,990.

The standard Model Y range was launched in January, bringing the SUV's price closer to that of the Model 3 sedan, the cheapest vehicle in Tesla's lineup.

Prices for the Performance Model 3 variant rose to $ 55,990 from $ 54,990 and for the Performance Model Y to $ 60,990 from $ 59,990.

The price drop comes as Tesla seeks to increase its supply. In total, the company delivered 499,550 vehicles in 2020, although its CEO Elon Musk promised at least 500,000.

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