Tesla is due to report first quarter results and cut the prices of its Model Y 'long range' and 'performance' vehicles by $3000 each and that of its Model 3 'rear-wheel drive' by $2000 to $39,990.
electric vehicles in the United States, its website showed late on Tuesday, the sixth time it has lowered U.S. prices this year amid concerns about the effect on its profit margins.
Tesla, which is due to report January-March quarter results on Wednesday, cut the prices of its Model Y 'long range' and 'performance' vehicles by $3000 each and that of its Model 3 'rear-wheel drive' by $2000 to $39,990. The Elon Musk-led company has cut U.S. prices of its base Model 3 by 11% so far this year and that of its base Model Y by 20%–moves that come as the United States, its largest market, prepares to introduce tougher standards that will limit EV tax credits.
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