Tesla has cut prices on several electric car models in the US, China and Germany as the automaker faces falling sales. About this the BBC reports.
In a post on Twitter on Sunday, company owner Elon Musk said that “Tesla prices must change frequently to match production and demand.”
In China, the company lowered the starting price of the updated Model 3 by 14,000 yuan ($1,934) to 231,900 yuan ($32,000).
Prices for the Model Y, Model X and Model S have been reduced by $2,000 in the US.
In Germany, the price of the rear-wheel drive Model 3 has been reduced to 40,990 euros ($43,670.75) from 42,990 euros.
According to a Tesla representative, the price cuts also took place in many other countries in Europe, the Middle East and Africa, Reuters reports.
The move comes after the company reported a sharp drop in global car shipments in the first three months of this year.
Tesla is due to report financial results for the first quarter of 2024 after the US market closes on Tuesday.
Tesla shares are down more than 40% since the start of this year.