Tesla cuts prices of Model S variant in United States, China

Earlier this month, the carmaker cut the starting price of its Chinese-made Model 3 sedans by about 8% to 249,900 yuan ($36,805).
By : Reuters
| Updated on: 13 Oct 2020, 16:10 PM
Tesla Model S is likely to get the Cheetah Stance update first.
Tesla Model S is likely to get the Cheetah Stance update first.
Tesla Model S is likely to get the Cheetah Stance update first.
Tesla Model S is likely to get the Cheetah Stance update first.

Tesla Inc said on Tuesday it has cut the price of its Model S "Long Range" sedan by 4% in the United States, days after the electric-car maker reported record quarterly deliveries.

The company, which is expected to report third-quarter results on Oct. 21, cut the price to $71,990 from $74,990 in the United States. It also trimmed the starting price of Model S by 3% in China.

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Earlier this month, the carmaker cut the starting price of its Chinese-made Model 3 sedans by about 8% to 249,900 yuan ($36,805).

Tesla said it delivered 139,300 vehicles in the third quarter, an all-time record, yet shares fell as some analysts doubted if Tesla could hit its ambitious year-end target.

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Shares of the automaker, which have surged more than five times this year, were up nearly 1% at $445.25 in premarket trading.

First Published Date: 13 Oct 2020, 16:10 PM IST
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