Tesla slashes prices amid slumping sales [Video]

(The Hill) — Tesla dropped the prices of its vehicles globally on Friday as the largest electric vehicle manufacturer faces declining sales. 

The prices of the Model X, Model Y and Model S — three of its four best-selling vehicles — were each reduced by $2,000 days after the company recorded below-anticipated delivery figures for the first quarter of 2024.

Prices for the Model 3, its standard sedan, stayed put. The small SUV Model Y is the company’s best-selling car and the most popular electric vehicle in the country.

When accounting for federal tax credits and estimated gas savings, a Model Y now starts at just under $30,000, the automaker announced, adding that “affordability is key to our mission.”

The price cut adds to disappointing news for the company, after Reuters reported that Tesla scrapped plans for a value-focused Model 2 priced at about $25,000 and after owner Elon Musk postponed …