Tesla continues to reduce the price of electric cars in the US, ‘challenging’ Ford, BYD, VinFast

Tesla’s website recently announced the price reduction of Model S and Model X cars in the US. This decision comes a few days after the company’s CEO – Elon Musk noticed that the recent price reduction has stimulated people’s demand to buy cars.

Specifically, the price of Tesla’s Model S has been adjusted down by $ 5,000. The standard version of the Model S is now priced at $89,990 compared to $94,990 as before, while the higher-performance models will cost $ 109,990 instead of $ 114,990 as before.

Prices for both versions of the Model X have dropped by $10,000, the electric vehicle maker’s website says.

Earlier in mid-February, Tesla reduced car prices in the US for Tesla’s global best-selling models, the Model 3 and Model Y, by about 6-20%. Like Model Y from $ 65,990 now only $ 52,990.

The above reduction does not include the support of $7,500 applied to many electric vehicle models from the first day of this year, so the total reduction could be more than 30%.

At the beginning of this year, the race to reduce the price of electric vehicles began to be sparked in the world’s leading market. On January 30, Ford announced that it was slashing prices on all versions of its best-selling electric SUV, the Mustang Mach-E. The company is trying to sell as many cars as possible. And in a similar situation, the selling price is often adjusted to create demand. The lowest drop is $600 and the highest is $5,900. In the US, the price of the Mustang Mach-E after the reduction starts at $ 45,995.

As for VinFast, recently, the company’s official website in the US has updated the price for the City Edition variant of the VF 8 pure-electric SUV. Accordingly, 2 versions VF 8 Eco City Edition and VF 8 Plus City Edition have new prices of 49,000 and 56,000 USD respectively (about 1,149 and 1,313 billion VND).

Compared to 55,500 and 62,500 USD in the US of the previous two versions of VF 8 City Edition, the new price is 6,500 USD lower.

In addition, this new price does not include the $3,000 promotion for the City Edition variant of the VF 8 and the $1,200 shipping fee.

Tesla’s price cuts could make electric vehicles more accessible to those who were once left out of the game due to financial inability. Customers in the U.S. and French markets can also take advantage of both lower prices and tax exemptions when purchasing certain supported electric vehicles.

According to Reuters