Tesla slashes Model Y, X S prices by up to $2,000

Days after the first-quarter deliveries of the world’s most valuable automaker missed market expectations, Tesla cut the US prices of its Model Y, Model X, and Model S vehicles by $2,000 each on Friday.

The new prices after the price cut are following:

1. Model Y base variant — $42,900
2. Model Y long-range and performance variants — $47,990 and $51,490
3. Model S basic version — $72,990
4. Model S plaid variant — $87,990
5. Model X base variant — $77,990
6. Model X plaid version — $92,900

Meanwhile, Tesla North America, in a post on X, said it would end its referral programme — these allow buyers to get extra incentives through referrals from existing customers, a strategy long used by traditional automakers to boost sales — benefits in all markets after April 30.

Last week, an internal memo said that Tesla plans to lay off more than 10% of its global force. Moreover, the EV makers had canceled a long-promised inexpensive car, expected to cost $25,000.

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

Tesla is to report first-quarter earnings on Tuesday.