Summary
Tesla revealed cheaper versions of its Model Y SUV and Model 3 sedan, pricing them at $39,990 and $36,990. The goal is to boost sales as the company faces more competition and its market share decreases.
Key Facts
- Tesla unveiled new, more affordable versions of the Model Y SUV and Model 3 sedan.
- The Model Y is priced at $39,990, while the Model 3 costs $36,990.
- The announcement is a response to increasing competition and slower sales.
- CEO Elon Musk had previously mentioned plans for a mass-market vehicle but canceled an all-new $25,000 EV last year.
- U.S. EV tax credits ended last month, effectively raising prices by $7,500.
- Tesla's market performance affected, with an almost 4% drop in stock price on Wall Street.
- The company plans to roll out more affordable vehicles in the future, including a stripped-down Model 3.
- Tesla aims to deliver 20 million vehicles over the next decade.
