• Tesla has reduced prices for its Model Y, Model X, and Model S vehicles in the US.
• The base Model Y now starts at $42,990, making it more affordable for entry-level buyers.
• This move comes amid challenges faced by Tesla, including workforce layoffs.

Tesla, the leading electric vehicle manufacturer, has made a strategic move to attract more buyers by reducing the prices of its Model Y, Model X, and Model S vehicles in the United States. This latest round of price cuts includes a $2,000 decrease in the starting prices of these popular models.

The decision to slash prices comes at a crucial time for Tesla, as the company faces various challenges. These challenges include a recent recall of Cybertrucks due to potential accelerator pedal issues, reports of layoffs affecting approximately 10 percent of its workforce, and a noticeable decline in deliveries during the first quarter.

Under the revised pricing, the base model of the Model Y is now priced at $42,990, providing a more affordable entry point for buyers interested in Tesla‘s electric SUV lineup. The Long Range variant of the Model Y now starts at $47,990, offering extended range capabilities, while the Performance model is priced at $51,490, targeting enthusiasts seeking enhanced performance attributes.

For the Model S lineup, the base model now starts at $72,990, reflecting a price reduction aimed at expanding its appeal to potential buyers. Meanwhile, the high-performance Model S Plaid variant is available for $87,990, catering to consumers seeking top-tier performance and technology features.

Similarly, the Model X, Tesla’s electric SUV offering, has seen its base model price drop to $77,990, with the Plaid version now starting at $92,990. These adjustments are designed to make Tesla‘s premium electric vehicles more accessible to a wider range of consumers while maintaining the company’s competitive edge in the market.

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In addition to the price cuts, Tesla has announced the discontinuation of its referral program benefits across all markets, effective April 30. This decision marks a shift in Tesla’s marketing strategy, as the referral program has historically incentivized existing customers to refer new buyers by offering various rewards and benefits.