Tesla cuts prices on electric vehicles for U.S. market

Jan 13 (Reuters) – Tesla (TSLA.O) has slashed prices on its top-selling electric vehicles for the U.S. market, the automaker’s website showed.

The price cuts, announced late Thursday in U.S. time on the Model 3 and Model Y, ranged between 6% and 20% compared with the prices that held before the discount, according to a Reuters calculation.

That is before accounting for a $7,500 federal tax credit that took effect for many electric vehicle models as of the start of January.

Tesla had also cut prices in China and other Asian markets last week. Along with a previous price cuts announced in October and recent incentives, the China price for a Model 3 or Model Y was down 13% to 24% from September after the recent move, Reuters calculations showed.

Tesla has also cut prices in South Korea, Japan, Australia and Singapore.

Tesla’s main market is the United States, and its second largest market is China.

Reporting By Kevin Krolicki; Editing by Christian Schmollinger and Neil Fullick

Our Standards: The Thomson Reuters Trust Principles.

source: reuters.com