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The
fifth such cut in Tesla's largest market since the start of the
year comes as the United States prepares to adopt tougher
standards this month that are expected to limit EV tax credits.
Tesla cut prices on both versions of its Model 3 sedan by $1,000
and on its Model Y crossover by $2,000, the website showed. It
also cut prices on both versions of its more expensive Model S
and Model X by $5,000.
The company has said the tougher U.S. standards would reduce the
$7,500 tax credit available for its base, rear-wheel drive Model
3 since January.
Some analysts who expected the further price cuts had flagged
concern that Tesla's industry-leading profit margins could be at
risk.
This week Tesla reported first-quarter deliveries of almost
423,000 vehicles, up just 4% from the prior quarter after price
cuts in the United States, China and other markets aiming to
spur demand.
Tesla has set a target of 1.8 million deliveries this year.
Tesla has cut the price of its base Model 3 by a cumulative 11%
since the start of the year, with a 20% reduction on its base
Model Y.
(Reporting by Akriti Sharma in Bengaluru and Abhirup Roy in San
Francisco; Editing by Kevin Krolicki and Clarence Fernandez)
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