Tesla cuts prices of Model Y, X and S EVs in the US

Tesla has officially lowered the prices of three of its EVs: Model Y, Model X and Model S, in the US. Each model will now cost $2,000 each, according to an official announcement from the EV company.

Elon Musk’s electric vehicle (EV) maker has slashed prices for its Model Y base variant to $42,990, while the long-range and performance variants now cost $47,990 and $51,490 respectively, according to its website.

The base version of the Model S now costs $72,990 and the plaid variant costs $87,990. The base variant of the Model

Tesla North America also said in a post on X that it would end referral program benefits in all markets after April 30. The referral program allows buyers to gain additional incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales. .

Musk has postponed a planned trip to India where he was due to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, Reuters reported on Saturday.

On Monday, Reuters reported, citing an internal memo, that the EV maker was laying off more than 10% of its global workforce.

Earlier this month, Reuters reported that the EV maker had canceled a long-promised low-cost car expected to cost $25,000 that investors had counted on to fuel mass-market growth.

The EV maker reported this month that its global vehicle deliveries fell in the first quarter for the first time in almost four years as price cuts failed to stimulate demand.