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.