Tesla cuts prices by as much as 6 percent in North America to boost demand

People wearing face masks following the coronavirus disease outbreak check a Tesla Model X sport utility vehicle at a new Tesla showroom in Shanghai, China. REUTERS

Tesla Inc has cut prices of its electric vehicles by as much as 6 percent in North America following a decline in auto demand in the region during weeks of lockdown that have now started to ease.

Tesla also said its Supercharger quick-charging service will no longer be free to new customers of its Model S sedans and Model X sport utility vehicles (SUVs).

Auto retail sales in the United States likely halved in April from a year earlier, showed data from J.D. Power. However, sales in May are likely to improve due to pent-up demand and incentives offered by most carmakers, the analytics firm said.

Automakers including General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles NV, are offering 0 percent financing rates and deferred payment options for new purchases.

A Tesla vehicle drives past Tesla’s primary vehicle factory in Fremont, California, US. REUTERS

Factories in the United States started to reopen earlier this month with suppliers gearing up to support an auto industry employing nearly 1 million people.

Tesla was briefly forced to stop work at its Fremont, California, factory due to stay-at-home orders. It resumed production after resolving a dispute over safety measures with local authorities.

On Wednesday, Tesla website’s showed the starting price for its Model S sedan is now $74,990, down from $79,990.

Its Model X SUVs are now priced at $79,990, from $84,990, and the lowest-priced Model 3 sedan is $2,000 cheaper at $37,990.

Tesla said it will also cut prices in China – as per usual after price adjustments in the United States – by around 4 percent for the Model X and Model S.

Tesla China, which is delivering Model 3 sedans from its Shanghai factory, in a Weibo post said it has also cut prices for the Model S and Model X cars it imports, but will keep prices of locally made Model 3 cars unchanged. (REUTERS)

Related post

MG Astor launched in India

While the MG Hector is set to launch in Nepal soon, the Astor is launched in India at the starting price of INR 9.78 lakh, that exceeds to INR 16.78 lakh for the top variant. The newcomer SUV has been introduced in India as the country’s first car with a personal AI assistant–which also can […]

Read More

Tata Punch launched in India

Tata Motors has launched its new SUV—the Tata Punch—in India. The newcomer SUV, the company says, is the most affordable vehicle in its segment. The sub-compact SUV comes in 14 different variants at the starting price of INR 5.4 lakh, that exceeds to INR 9.39 lakh for the top variant. Performance The Punch is powered […]

Read More

Yamaha FZ X to launch soon in Nepal

The Yamaha FZ X was launched in India on June 17, 2021. It is a crossover motorcycle that has a classic retro look inspired by classic-era motorcycles. The bike comes with a host of features and is offered at an affordable price—these characteristics have allowed it to stand out in the 150 cc segment. And […]

Read More

Hatchbacks in Nepal 2021

Ford Figo  The Ford Figo is powered by a 1.2L petrol engine that generates a peak power of 87 bhp at 6300 rpm and a peak torque of 112 Nm at 4000 rpm. It comes mated to a five-speed manual or five-speed automatic transmission. The vehicle is available in three variants: Titanium (MT), Titanium (AT), […]

Read More

Brands in Nepal: TVS

Ntorq scooter variants Jagdamba Motors, the official distributor of TVS two-wheelers in Nepal, has been selling its bikes and scooters in Nepal since September 2015. The company sells both bikes and scooters that are widely popular among the youths and others here. Both their bikes and scooters are also well-known for their pickup and robust […]

Read More

Shadow Top Brand Shadow