Tesla Cuts Prices Again as It Seeks to Lure New Buyers

Elon Musk has said small reductions can ‘have a big effect on demand’

Photo illustration: Josephine Chu

Tesla Inc. lowered the prices on its vehicles in the U.S. again, as the EV maker tries to stoke demand amid heightened competition from other auto makers.

Tesla cut the prices on its Model S and Model X vehicles by $5,000 each to $84,990 and $94,990, respectively. The company also lowered the price on its Model 3 sedan and Model Y cross-over by $1,000 and $2,000 to base prices of $41,990 and $49,990, respectively.

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