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The Markets
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Manufacturing & engineering

Tesla changes prices for fourth time this year

Tesla has changed the US prices of one version of its Model 3 sedan and Model Y crossover for the fourth time this year.

According to Reuters, the Model Y vehicle is now US$1,000 more expensive, costing US$58,990.

However, it cut the price of its Model 3 sedan by US$500 to US$42,990, its cheapest model.

Elon Musk’s Tesla introduced a sweeping range of price cuts in January across all its models and major markets.

Cuts in January had prompted anger in China from Tesla buyers who had bought earlier and missed out on potential savings.

In the US, some Tesla owners have also complained about the price cuts, citing they have eroded the resale value of their vehicles.

Following the recent changes, the Model Y is still roughly 16% cheaper than it was in early January for US customers, while the Model 3 remains about 9% cheaper.

Both vehicles still qualify for the US$7,500 federal tax cuts.

In the US, individuals who purchased an electric vehicle (EV) on or after 1 January 2023 may be eligible for a clean vehicle tax credit of up to US$7,500.

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