Tesla Lowers Prices on Entry-Level Model 3 and Model Y

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Automaker Tesla has lowered the prices of entry-level Model 3 sedan and the sporty off-road vehicle (SUV) Model Y.

 

On the other hand, prices for more luxurious variants of the cars have increased, according to the website of the maker of electric cars.

The Model 3 Standard Range Plus price has dropped from $ 37,990 to $ 36,990, while the price of the Model Y Standard Range has fallen from $ 41,990 to $ 39,990, the website said.

The car manufacturer has made several models more affordable. This is happening at a time when other automakers also want to enter the electric vehicle market.

The standard Model Y series was launched in January. This brought the SUV price closer to that of the Model 3 sedan, Tesla’s least expensive car. The price for the so-called Performance variant of the Model 3 rose from $ 54,990 to $ 55,990 and the Model Y from $ 59,990 to $ 60,990.

The adjustments, and in particular the price cuts, come at a time when Tesla wants to increase its deliveries. In total, the company delivered 499,550 vehicles last year, more than experts expected.

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