Tesla cuts car prices by up to $5,000

The entry-level Tesla Model 3 (pictured) is receiving a smaller price cut of $2,000. | Photo by James Bareham / The Verge

Tesla has reduced the price of the Model 3, Model S, and Model X in North America, Electrek reports. The Model S and X both saw $5,000 price cuts to $74,990 and $79,990 respectively for their entry-level Long Range Plus versions, while their more expensive Performance versions have also been cut by $5k. The Model 3 has received a smaller $2,000 price cut across all versions, with the online entry-level Standard Range Plus Model 3 now starting at $37,990. Pricing for the Model Y, Tesla’s newest car, is unchanged.

A Weibo post from Tesla’s official account confirmed that the company will also reduce the prices of the Model S and Model X cars sold in China. However, the Chinese price of its Model 3 cars, which it produces domestically in...

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