UAE- Tesla cuts price of Model 3, lifts prices of premium EVs

Tesla Declines as Model 3 Price Cut Renews Demand Concerns

Tesla Declines as Model 3 Price Cut Renews Demand Concerns

Along with the changes, Tesla announced that it is adjusting prices across the board to simply options for customers. The cheapest version of the Model S sedan, the long range, now sells for $79,990, or about $4,000 more than the base model previously cost.

Additionally, Tesla dropped the starting price of the Model 3 to $38,990.

"The starting price for the Model 3 will be $30,315, down from $32,225, that for the Model X will rise to $75,315 from $71,325, and the Model S will change to $70,115, up from $65,125, according to the company's website". The Model S now starts at $80,000 and the Model X at $85,000.

The company also removed two vehicles from its USA product lineup and adjusted the prices of other vehicles in the lineup, according to Reuters. Now the option costs an additional $6,000.

Without the Standards, this leaves the Performance vehicles at the top of the range, which come with Ludicrous Mode, which offers the ability to get from 0-100km/h in 2.6 seconds or 2.9 seconds, respectively. The Model S Performance now costs $99,990 and includes Ludicrous Mode, which has in the past been a $20,000 option (sometimes).

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Despite reports that it won't be able to meet Elon Musk's goal for record production and sales for Q2, Tesla said earlier this month that it achieved record production of 87,048 vehicles and record deliveries of around 95,200 vehicles, beating analyst expectations, sending the stock rallying 7 percent on the next day, and giving Tesla bulls new hope. The carmaker predicted its production and deliveries to continue growing in the third quarter of the year.

Tesla Inc. (NASDAQ: TSLA) is streamlining its product line and tweaking the prices of its electric vehicles in a bid for another jolt following strong second-quarter sales results.

Tesla is building a factory in Shanghai where it initially plans to build Model 3 cars to avoid import tariffs in the world's biggest auto market.

Its website showed the Model 3 starting price is now 355,900 yuan ($51,780), down from 421,000 yuan.

Potential new Tesla buyers may end up paying a bit more than they expected - or a bit less, depending upon what vehicle they're after.

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