Tesla is cutting the price of its top-selling Model 3 – USA TODAY

Tesla is cutting the price of its top-selling Model 3 – USA TODAY

Elon Musk
Annie Palmer, CNBC Published 8:54 a.m. ET July 17, 2019 | Updated 8:56 a.m. ET July 17, 2019 CLOSE Tesla Powerwalls and Solar Roof, two of Elon Musk's innovative strategies to get consumers onto the solar grid, require waits of six months or longer. The company says customers are hungry, but it doesn't have the product yet. USA TODAY Tesla is cutting the price of the Model 3, as it aims to make its best-selling product more affordable, and is discontinuing versions of other vehicles. Tesla said on Monday that it’s reducing the price of the Model 3 by $1, 000 to $38, 990. The company will no longer sell the standard range versions of the Model S and Model X, raising the minimum costs consumers will have to pay for those cars. The base version of the Model S is rising to $79, 990 from $75, 000, while the price of the Model X is increasing to $84, 990 from $81, 000. “In order to make purchasing our vehicles even simpler, we are standardizing our global vehicle lineup and streamlining the number of trim packages offered ....

“We are also adjusting our pricing in order to continue to improve affordability for customers. Like other car companies, we periodically adjust pricing and available options.” Model 3: Tesla employees say they took shortcuts to meet aggressive production goals In this Friday, July 6, 2018, photograph, prospective customers confer with sales associates as a Model 3 sits on display in a Tesla showroom in the Cherry Creek Mall in Denver. (Photo: David Zalubowski, AP) The changes come ahead of Tesla’s second-quarter earnings next week. In its last report, Tesla recorded a wider-than-expected loss and less revenue than expected as demand for its cars waned following the loss of a valuable tax credit for buyers. As part of the update, Tesla is bundling its high-performance “ludicrous mode” into the price of the Model S Performance and Model X Performance variants. Ludicrous mode previously cost buyers an additional $20, 000. A couple walk next to the new Tesla Model X during the opening of the Brussels Auto Show in Brussels, Friday, Jan. 18, 2019. (Photo: Virginia Mayo, AP) Additionally, CEO Elon Musk tweeted Tuesday that the price of a Tesla with full self-driving capabilities will increase by $1, ....

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