Tesla cuts Model 3 and Model Y prices in U.S. after missing Q3 delivery estimates
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EV giant Tesla (NASDAQ:TSLA) dropped prices for its Model 3 compact sedan and Model Y SUV in the U.S. by roughly 2.7% to 4.2% in an effort to boost demand for its electric vehicles. The move comes after its Q3 deliveries missed estimates.
The Model Y Long Range and Model Y Performance are both now listed for $2,000 less than they were earlier, with the Model Y Long Range going for $48,490 and the Model Y Performance going for $52,490 as per the company website. Previously, the models started at $50,490 and $54,490, respectively.
Since the start of the year, costs for the basic Model 3 have dropped by nearly 17%, and those for the long-range Model Y have slashed by more than 26%.
A few days back, Tesla (TSLA) rolled out an updated Model Y version in China with some improved features.
The stock price moved 1.5% lower on Friday before the market opened. Tesla (TSLA) is set to report Q3 earnings on October 18 after the market closes.

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