Tesla is announcing an additional cut of $3000 on new vehicles, but is requiring a trade-in. The company will either discount the price of a new car or offer free Supercharging for three years. The offer expires in February but the company did not give an exact date.
Earlier this year Tesla decreased prices by as much as $13,000.
There is some uncertainty whether it applies to all Tesla models.
Today Ford Motor Company announced that they would cut the price of their electric Mach-E Mustang models in reaction to the cut in the Tesla models. Ford said that they would cut the price by as much as $5900 on the top trim model and $900 off the base model vehicle. They will also dramatically increase production.
With the economy showing signs of slowing, consumers reacting to the higher prices, increased competition and prices of gas coming off their $5 highs of 2022, the electric vehicle market seems to be reacting to the turn of events that has slowed demand.
FYI, the GT Extended Range Mach-e is up to 300 miles.
Also, Ford announced increases in its Mach-E pricing for 2023 of $3000 to $8000 (for the GT model). So the decline of the GT by $5900 does not offset the rise of $8000 from 2022 models.
By comparison, Tesla model pricing ahead of discounts:
- Model 3 $53,900 (315 range)
- Model Y $53,490 (330 range)
- Model S $94,900 (405 range)
/inflation
