Tesla Continues to Disrupt Automotive Industry with Fifth US Price Cut
Tesla lowered its U.S. EV prices again, possibly due to stricter IRS rules on purchase tax credits.
Tesla cuts Model 3 by $1,000, Model Y by $2,000, Model S and X by $5,000. The Model 3 starts at $42,000 and the Model Y at $50,000, while the Model S and X start at around $85,000 and $95,000, respectively.
New US rules require stricter battery material/component requirements for EVs to qualify for a $7,500 tax credit, effective April 18. IRS previously overlooked the rules, but Ford's Mustang Mach E lost half its credit due to not meeting battery sourcing requirements, causing a 3% stock drop.
Tesla's Q1 2023 global deliveries of X and S vehicles totaled 10,695, falling short of Wall Street's estimated 17,500 and Q4 2022's 17,147 deliveries.
Wild EV pricing year in America with more changes ahead, including new IRS rules in weeks. Don't miss out on $7,500 off most Tesla and Mustang Mach E models for aggressive buyers. Tesla stock up 50% YTD after dropping 65% in 2022.