Tesla cuts prices in North America to boost sales

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Tesla is cutting vehicle prices in North America to boost demand for electric cars now that the two-month blockages are starting to ease, Reuters reported on Wednesday, citing starting prices for Tesla models on its website.

Prices for Tesla vehicles are down about 6% in North America, while the electric vehicle maker has also cut the price of the S and X models in China by about 4%. The price of the model 3 made in China remains unchanged, according to Tesla China quoted by Reuters.

In North America, the price of a Tesla Model S now starts at $ 74,990 US, up from $ 79,990 previously. The starting price for Model X fell to US $ 79,990 from US $ 84,990, while prices for Model 3 start at US $ 37,990, down from US $ 2,000.

The COVID-19 pandemic and blockages have caused sales of passenger cars worldwide to drop. Sales of new cars in major European markets, for example, fell by more than 90% in April.

In the UK, where total new car sales fell 97.3% year-on-year to the lowest level since 1946, Tesla Model 3 was the top-selling car last month.

The situation in the United States in April was not as grim as in Europe, although many automakers reported sales at their lowest level in decades. Dealers and executives are hoping that potential buyers will return once they get out of the roadblocks, the Wall Street Journal reported in early May.

Earlier this month, Tesla reopened its plant in Fremont, California, in violation of a shutdown order issued by Alameda County health officials.

A few days before that, Musk had declared that Tesla would move its head office to Texas or Nevada after the department of health of the county of Alameda told the manufacturer of electric vehicles that it could not yet reopen because the measures of locking continue longer than expected.

By Tsvetana Paraskova for Oilprice.com

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