Maria Montero

Tesla cuts the price of the Model 3 sedan by $ 1,100; …

Tesla Inc said Wednesday that he was lowering the price of his Model 3 sedan for $ 1,100, after the electric carmaker ended its expensive customer referral program.

The second price cut this year brings the cost of its least expensive variant down to $ 42,900, according to the company’s website.

Tesla Model 3. Image: Reuters

Elon Musk’s staff cost on Twitter was $ 35,000, after around $ 8,000 in credits and fuel savings.

In a response to a Twitter user about when Tesla would lower the base price of the Model 3 to $ 35,000, without credits, Musk said: “We are doing everything we can to get there.” It’s a very tough routine. “

Tesla, which does not use traditional advertising and marketing, introduced its customer referral program in 2015, but suspended it on February 1.

The program had evolved over the years, and in its latest version, Tesla’s personal referral codes gave new buyers six months of free overhead and rewards for existing owners, such as the launch of personal photos in space. or invitations to a Tesla event.

Tesla delivered fewer Model 3 sedans than expected in the fourth quarter and cut prices for all of its vehicles in the United States to offset a reduction in a green tax credit.

The company is rapidly increasing production of its Model 3 sedan and the lower prices could help it reach a broader customer base than its pure luxury vehicles.

When asked about lower prices in Europe, Musk tweeted that value-added tax of around 20 percent and import duties of around 10 percent generally result in a 30 percent higher cost in Europe. .

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