Tesla Cuts Prices by $2,000 on Model Y, X, S in U.S., Lowers FSD Cost Ahead of Earnings

Apr 22, 2024, 04:50 AM

Tesla has reduced the prices of its Model Y, Model X, and Model S vehicles by $2,000 in the U.S., with the Model Y now starting at $42,990, the Model S base version at $72,990, and the Model X base variant at $77,990. This adjustment reflects challenges in the electric vehicle market, marked by slowing sales and swelling inventories. Additionally, Tesla has ended its referral program and reduced the price of its semi-autonomous driving software, Full Self-Driving (FSD), to $8,000 from $12,000, now offering a subscription at $99 per month. These changes come ahead of Tesla's quarterly earnings report, anticipated to reveal a 40% plunge in operating profit and its first revenue decline in four years.