FILE - A Model X sports-utility vehicle sits outside a Tesla store in Littleton, Colo., on June 18, 2023. On Friday, April 19, 2024, Tesla knocked $2,000 off the prices of three of its five models in the United States. Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk.
The cuts reduced the starting price for a Model Y to $42,990 and to $72,990 for a Model S and $77,990 for a Model X. Industry analysts have been waiting for Tesla to introduce a small electric vehicle that would cost around $25,000, the Model 2. Media reports this month that Musk planned to scrap the project created more uncertainty over the company's direction, although Musk called them untrue.
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