Tesla cuts Model Y prices by $7,000
- April 5, 2024
- 0
Tesla is slashing prices on unsold Model Y SUVs in the U.S. as it tries to liquidate unprecedented amounts of inventory. reported Tech Crunch reported Ukrinform. The publication
Tesla is slashing prices on unsold Model Y SUVs in the U.S. as it tries to liquidate unprecedented amounts of inventory.
reported Tech Crunch reported Ukrinform.
The publication notes that many long-range and high-spec Model Y models are now selling for $5,000 less than their original price, and rear-wheel-drive versions are being discounted even more (more than $7,000).
These discounts are due to Tesla once again producing many more cars than it sold in the last quarter. In the first quarter, the company produced 433,371 vehicles but delivered only 386,810, likely adding more than 40,000 electric vehicles to its inventory. The company has produced more cars than it shipped in seven of the last eight quarters, according to Bloomberg News.
In January, Tesla warned that sales growth in 2024 could be “significantly lower” than in previous years.
Musk has more or less acknowledged that Tesla has had to work harder lately to increase demand for its cars. He said that although his company has sharply lowered Model Y and Model 3 prices through 2023, he largely blames that on high interest rates.
Tesla, Ukrinform reported It faced a decline in annual sales for the first time since the beginning of the COVID-19 pandemic.
Photo: Tesla
Source: Ukrinform
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