Tesla Now Makes the Best Value EVs on the Market
Everything You Need to Know About Tesla’s Surprisingly Steep Discounts
Throughout 2022, and the various supply shortages that plagued it, Tesla suffered numerous price hikes that took even its most affordable vehicles out of the price range of most consumers. While various other EV models followed suit, whether from MSRP hikes or dealership markups, Tesla was unique in that it claimed the price hikes were also to slow down the overwhelming demand they faced at the beginning of last year.
But as more competition flooded the market last year, including new offerings from Hyundai, Rivian, and Ford, Tesla started feeling the heat to lower prices.
The concern about falling demand first began in China, as Chinese competitors like BYD and NIO started gaining momentum for providing more appealing yet less expensive vehicles than Tesla’s offerings. Tesla responded by slashing the prices of the Model 3 and Y by 6–13.5%, which further worsened the company’s situation by igniting an outrage of customers who had just placed an order before the price cuts.
More recently, as Tesla’s stock price has continued to plummet, Tesla has now implemented significant price cuts across Europe and the U.S. But will these lower prices be enough to revive consumers’…
