Stellar Snippets
Tesla's Model 3 and Y versions' prices were slashed after their delivery rates fell in the third quarter, missing market expectations.
Tesla's Model 3 is now at $38,990 from $40,240. The long-range Model 3 is at $45,990 from $47,240. Model 3 Performance went from $53,240 to $50,990.
Tesla’s Model Y Performance sports utility vehicle is listed at $52,490 from $54,490.
Tesla slashed its car prices by the end of 2022 to encourage more sales as people had stopped buying a Tesla in its biggest markets which are the U.S. and China.
According to Tesla, this is because of factory upgrades causing downtime in manufacturing units.
Tesla's CEO, Elon Musk, has a focus on increasing volume over maximizing margins this year. This strategy has already yielded impressive results, with the stock surging over 100%.
Tesla aims to deliver 1.8 million vehicles this year.