Tesla Slashes US Vehicle Prices -- IBD -- April 8, 2023

Locator: 44338B.

Link here.

Reductions "offset / compensate" buyers who will lose the $7,500 tax credit for EVs. 

From the linked article:

The global electric-vehicle maker reduced Model S and X prices by $5,000, the third price reduction this year.

The Model S starts at $84,990 while the Model X now begins at $94,990. Meanwhile, Tesla cut U.S. Model 3 prices by $1,000 to an entry price of $41,990. The Model Y was cut $2,000 to $49,990.

Tesla's decision to slash U.S. vehicle prices comes ahead of the implementation of new battery and mineral component requirements to qualify for the full Inflation Reduction Act $7,500 tax credit for EVs.

Earlier in the week, Tesla also cut Model 3 and Y prices in Australia once more. Tesla trimmed prices in China on January 6, 2023, following big cuts in late October, 2022. The global EV maker also significantly reduced prices in the U.S. and Europe on January 13, 2023. The company reduced European prices again in early March, 2023, with further U.S. discounts for the Model S and X.

Those price cuts and new U.S. EV credits lifted first-quarter deliveries to a record, but fell short of FactSet views.

Production outpaced deliveries once again, with Model S and X output nearly twice as high as sales.

Let's repeat that, in case you missed it:
Production outpaced deliveries once again, with Model S and X output nearly twice as high as sales.

Model S: starts at $84,990.

Model X: starts at $94.990.

Luxury automobiles. 

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