Tesla Inc. on Wednesday said it cut prices for its entire vehicle lineup, raising concerns about future demand for the Model 3 after the electric-car maker’s new compact sedan drove record deliveries during the final three months of 2018.

The $2,000 across-the-board cut lowered the starting cost for the Model 3—the vehicle Tesla is banking on to reach the mass market—to $44,000. Tesla said the move was to help make up for the phasing out of federal tax incentives for its vehicles, beginning this year.