Teslas are on sale. Some vehicles, in fact, cost the same as any conventional electric car. The Model 3 is just one example. The company lowered the cost of this car for the sixth time this year and it now costs $39,990. This is the second time the price has been lowered in just one month. Two weeks ago, the company announced its new prices and surprised customers by lowering the costs of its vehicles.
This time, the company discounted all of its models. Now, the Model 3 isn't the only vehicle on sale. As reported by Fox Business, the Model Y 'long range' and 'performance' range cars now cost $3,000 less than they did two weeks ago. So far this year, Elon Musk's company decreased the price of Model 3 by 11% and Model Y by 20%.
The company's decision is motivated by the implementation of new tax credits for electric vehicles. Thanks to this, Americans who want to get their hands on a Tesla could get up to $7,500 in aid from the federal government. The United States is not the only place that benefited from this rebate. Teslas are cheaper in the European Union, Israel, Singapore, Japan, Australia and South Korea compared to a few months ago.
The new discount is no coincidence. According to Reuters, prices were cut on Tuesday. Just one day later, Tesla released the company's first-quarter results. The move made investors fear the worst and when the market opened the next day, the company's shares dropped by almost 3%. Nevertheless, the results have turned out to be in Musk’s favor. Tesla’s stock prices rose by more than half this year. The rise comes after its largest annual drop in 2022.
