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.

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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.

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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.

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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.

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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.

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