Tesla makes its fourth U.S. price change in two months.
One Model 3 sedan and Model Y crossover from Tesla (TSLA.O) has been reduced in price.
The electric vehicle manufacturer has adjusted prices four times this year.
Tesla’s Model Y performance crossover now costs $58,990. Rear-wheel drive vehicles cost less.
The company’s most affordable Model 3 sedan dropped $500 to $42,990, according to its website.
Both vehicles receive $7,500 federal tax credits.
It cut prices across its product line and major markets in January.t
Furthermore, the company has changed prices online frequently for an industry that still uses “sticker prices” on vehicle inventory windows.
Also, the performance Model Y, with a higher top speed and lower suspension, is 16% cheaper for U.S. customers than in early January.
Rear-wheel drive Model 3s are 9% cheaper.
The remaining two US-sold Model 3 and Model Y versions had unchanged prices on Tuesday.
It raised the price of its Model Y Long Range in the U.S. earlier this month.
This was after the government raised the price cap for crossover electric vehicles eligible for the income tax credit.
Elon Musk, the company’s CEO, reported that vehicle orders were roughly double January’s output after the first price cuts.
Musk said the “first small Model Y price increase was prompted by strong demand.
The company would focus on price to drive demand as the economy heads toward a recession,”
Tesla’s buyers in China protested January’s price cuts.
It owners complained that the price cuts reduced their vehicles’ resale value.
It cut prices this year after nearly two years of raising prices and not meeting demand.
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