Last Sunday, the 5th, Tesla announced additional price cuts for the S and X models of electric vehicles. discounts from 4 to 9%depending on the version of the car and, according to the company, should further stimulate sales.

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During January, Tesla cut prices on the Model 3 by about 6% and on the Model Y by up to 20%. During a conference for investors, Elon Musk said that after the price cut, the company “recorded the strongest orders in its history for a year.” It’s important for the CEO to lower the price of electric vehicles to encourage sales, which is why other companies are also looking for discounts to compete with Tesla.

Model X and Model S subject to price cuts

According to a Reuters report, Tesla Cuts Prices on Model S and X by 4-9%. Base EV versions have been retuned by 5% (Model S) and 9% (Model X). The more durable versions, S Plaid and X Plaid, lost 4% and 8% respectively.

It is estimated that price cuts should help boost sales of the models. Data indicates that this increase in sales could reach +45% during fiscal year 2023. Reuters also points out that Tesla is betting on increasing sales and using all of its production capacity for the Model S and Model X.

In 2022, electric vehicles accounted for 10% of all car sales. The number is very representative and should increase a little each year. Due to the increased user interest in the electric segment, several companies are investing heavily in this sector, and competition between Tesla and other automakers is intensifying every year. At the moment, the high price of models is the main obstacle to the access of the majority of the population to electric vehicles.

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