Tesla is again cutting the price of its Model 3, now $38,990 from $40,240. File Photo by Keizo Mori/UPI | License Photo
Tesla announced another round of price cutting on a handful of its signature vehicles in some of its top markets around the world after soft third-quarter deliverables.
The electric carmaker said it will cut costs by as much as 4.2% in the United States for the Model Y SUV and Model 3. Advertisement
Tesla earlier had cut the cost of its Model 3 by about 17% and a 26% reduction for its Model Y the price slashing that weighed on Tesla’s profitability, tumbling from 22.4% to 18.7%.
The starting price for a Model 3 is now $38,990 from $40,240 while the Model Y SUV starts at $52,490 from its previous base price of $54,490.
Tesla had reported third-quarter deliverables of 435,059, missing the forecasts from analysts while marking a decline from the previous quarter. The company said that some of its plants will have upgraded.
