As per ANI, citing a New York Times story, in an effort to increase demand, Tesla has reduced costs on most of its electric vehicles by up to 20% in the United States and Europe.
The price reductions come as Tesla struggles to meet production targets for its mass-market Model 3 sedan. The company is also facing increased competition from European manufacturers such as Volkswagen and BMW, who are making their own electric vehicles.
Tesla has been working to ramp up production of the Model 3, which has a starting price of $35,000. The company has said that it wants to produce 500,000 cars per year by 2018.
In order to meet this goal, Tesla has been working to improve its manufacturing process and reduce costs. The price reductions are a part of this effort.
The reductions apply to all Tesla models except for the high-end Model S and Model X. For the Model 3, the price reduction is only available in the United States. In Europe, the price reduction applies to all models except for the entry-level Model 3.
Tesla is hoping that these price reductions will help it reach its production goals and boost demand for its products.
Tesla Motors has slashed prices on its all-electric cars by up to 20 percent in the United States and Europe in an effort to increase demand.
The price reductions come as Tesla faces increased competition from other automakers who are entering the electric vehicle market. Tesla is also under pressure to boost sales and production of its cars after a series of delays and production problems.
The price cuts are significant because they apply to all of Tesla's electric vehicles, including the Model S sedan and the Model X SUV. The reductions range from $5,000 to $20,000 depending on the model and country.
In the United States, the starting price of the Model S has been reduced by $5,000 to $74,500. The starting price of the Model X has been reduced by $6,500 to $79,500.
In Europe, the starting price of the Model S has been reduced by €10,000 to €64,500. The starting price of the Model X has been reduced by €12,000 to €69,500.
The price cuts come as Tesla prepares to launch its new Model 3 sedan, which is priced at $35,000. The company is hoping that the lower priced car will help it reach its goal of selling 500,000 vehicles per year by 2018.
As per ANI, citing a New York Times story, in an effort to increase demand, Tesla has reduced costs on most of its electric vehicles by up to 20% in the United States and Europe. The move is aimed at making the cars more affordable and boosting sales.
Tesla's entry-level Model 3 sedan will now cost $35,000 in the US, down from $39,500. In Europe, the price of the car has been cut by 20%, from €40,600 to €32,000. The price of the Model S and Model X have also been reduced by up to 20%.
The price cuts come as Tesla faces challenges in meeting production targets for its cars. The company has been facing criticism for not being able to meet delivery deadlines for its cars. In order to increase production, Tesla has been working on increasing its manufacturing capacity.
The price cuts are also aimed at helping Tesla compete with other electric vehicle manufacturers who have been aggressively pricing their products. Several new electric vehicle startups have entered the market in recent years and have been offering their products at competitive prices.
Tesla's move to reduce prices is likely to help boost demand for its cars and help it compete better in the growing electric vehicle market.