Tesla Slashes Price of Model 3 & Model Y

Tesla has cut the price of its cheaper variants of the Model 3 sedan and the Model Y sports utility vehicle (SUV), while raising prices for their performance variants.

The price of its Model 3 Standard Range Plus has gone to $36,990 from $37,990, while the Model Y Standard Range's price fell to $39,990 from $41,990. On the other hand, the prices for the Performance variant of the Model 3 rose to $55,990 from $54,990 and Model Y to $60,990 from $59,990, the website showed.

The price cuts come as Tesla looks to ramp up its deliveries. During 2020, the company has overcome Wall Street expectations by delivering 499,550 vehicles as opposed to the 481,261 vehicle analyst forecast.

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