In a surprising move, Tesla has once again cut prices on their electric vehicle lineup, including the popular Model 3 and Model Y (USA Today). This is the second time this month that Tesla has reduced prices on their vehicles, indicating a push for increased demand (TechCrunch). The Model Y, in particular, has seen impressive sales growth in Europe after a recent price reduction (Automotive News Europe).
Tesla CEO Elon Musk has even gone so far as to predict that the Model Y will become the best-selling car in the world, a prediction that may very well come true, as the Model Y continues to see increased demand (InsideEVs). In an effort to juice demand and stay ahead of competition, Tesla has cut prices for the sixth time this year in the US alone (Reuters).
With these price cuts, brand-new Tesla vehicles can now be purchased for under $40,000 (Electrek). This move is particularly notable as it challenges ICE (Internal Combustion Engine) models in terms of pricing, making electric vehicles even more accessible to the general public (Green Car Reports).
Overall, Tesla’s continued price drops signal a deliberate strategy to increase demand for their vehicles and stay ahead of competition in the electric vehicle market. Time will tell if Elon Musk’s prediction for the Model Y’s success will come true, but the demand for Tesla’s electric vehicles seems to be constantly on the rise.
