Facing economic headwinds and mounting competition, Tesla this year has aggressively cut vehicle prices and is offering up to $1,300 off the Model 3.
May 20th 2023 at 1:04PMis offering discounts of more than $1,300 on some Model 3 cars in its U.S. inventory following even heavier discounts in Europe, according to a Reuters' review of its website, even as the electric carmaker has raised U.S. prices on most newly ordered cars this month.
Tesla slightly raised prices of some new models twice this month in the U.S., although prices remain much lower than they were before the price cuts began this year. Tesla plans to launch a revamped version of its Model 3 sedan this year to refresh its aging product lineup. The price cuts to drive up sales volume reflect pressure Tesla faces from competition and an aging product lineup, rival Ford Motor Co CEO Jim Farley said last month.Tesla's U.S. discounts follow deep discounts in Europe this month as production from factories in China and Berlin outpaced demand.
Tesla researcher Troy Teslike tweeted on Friday that Tesla solved its inventory problem in China by exporting from that market.
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