Steep discounts are designed to stoke demand while fending off EV upstarts and legacy rivals.
Tesla’s Model 3 and Model Y prices have dropped by about 17% and 26%, respectively, since the beginning of the year.
Tesla has been cutting prices aggressively this year to counter the effect of a slowing EV market, while fending off competition from upstarts and legacy players. Prices for the standard Model 3 have come down by about 17% since the beginning of the year while the Model Y long-range variant has seen a drop of over 26%.
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