The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Tesla cuts U.S. prices on its Model Y, S and X vehicles after a difficult week

by admin April 21, 2024
April 21, 2024
Tesla cuts U.S. prices on its Model Y, S and X vehicles after a difficult week

Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk.

The company cut the prices of the Model Y, a small SUV which is Tesla’s most popular model and the top-selling electric vehicle in the U.S., and also of the Models X and S, its older and more expensive models. Prices for the Model 3 sedan and the Cybertruck stayed the same.

The cuts reduced the starting price for a Model Y to $42,990 and to $72,990 for a Model S and $77,990 for a Model X.

The move came the day after Tesla’s stock tumbled below $150 per share, eliminating all gains made over the past year. The Austin, Texas, company’s stock price has dropped about 40% so far this year amid falling sales and increased competition. Discounted sticker prices are a way to try to entice more car buyers.

Musk posted early Saturday on X, the social media platform known as Twitter before he acquired and renamed it, that the cost of an entry-level Tesla was as low as $29,490 once a federal tax credit and gas savings were factored in.

Industry analysts have been waiting for Tesla to introduce a small electric vehicle that would cost around $25,000, the Model 2. Media reports this month that Musk planned to scrap the project created more uncertainty over the company’s direction, although Musk called them untrue.

The price cuts ended a long workweek at Tesla, which announced Monday that it was cutting 10% of its staff globally, about 14,000 jobs. The company also said it was recalling nearly 4,000 of its 2024 Cybertrucks after discovering the accelerator pedal can get stuck, potentially causing the vehicle to accelerate unintentionally and increase the risk of a crash.

On Saturday, Musk confirmed he had postponed a planned weekend trip to India to meet with Prime Minister Narendra Modi, citing “very heavy Tesla obligations.” He said on X that he looked forward to rescheduling the visit for later this year.

Tesla is scheduled to announce its first-quarter earnings on Tuesday.

The company reported earlier this month that its worldwide sales fell sharply from January through March as competition increased worldwide, electric vehicle sales growth slowed, and earlier price cuts failed to lure more buyers.

It was Tesla’s first year-over-year quarterly sales decline in nearly four years.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Week Ahead: Mild Technical Pullbacks Likely; NIFTY Remains Prone To Selling Pressure At Higher Levels
next post
Caitlin Clark’s pro salary exposes an undeniable economic reality separating the WNBA and NBA

Related Posts

People are earning more from side gigs and...

July 11, 2024

Disney debuts its latest cruise ship, Treasure, as...

November 21, 2024

Treasury ends enforcement of business ownership database meant...

March 4, 2025

Investor convicted in Trump Media insider trading case

May 10, 2024

Extreme heat is changing where and when we...

July 8, 2024

Starbucks union announces strike to last through Christmas...

December 21, 2024

NFL-backed group lines up ‘Sunday Ticket’ streaming for...

July 4, 2024

Some experts have raised the odds of a...

August 15, 2024

Why the Fed’s keeping rates higher for longer...

April 25, 2024

CrowdStrike says it isn’t to blame for Delta’s...

August 6, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The Real Drivers of This Market: AI, Semis & Robotics

      July 22, 2025
    • Harvard, Trump battle for billions in federal funds as judge weighs next steps

      July 22, 2025
    • Congressional Republicans face bruising battle to avoid government shutdown

      July 22, 2025
    • Iran seeks China, Russia help to stall UN sanctions ahead of nuclear talks with Europeans

      July 22, 2025
    • Obama-era officials mum on allegations of ‘manufactured’ intelligence launching Trump-Russia probe

      July 22, 2025
    • Hunter Biden special counsel got ‘one resume’ from DOJ to help prosecute president’s son

      July 22, 2025

    Categories

    • Business (1,299)
    • Politics (4,050)
    • Stocks (1,536)
    • Uncategorized (45)
    • World News (1,292)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved