Tesla slashes Model 3 and Model Y prices in the US amid declining deliveries

Tesla has reduced the prices of certain Model 3 and Model Y versions in the U.S. following lower-than-expected third-quarter deliveries. The starting price for the Model 3 now stands at $38,990, down from $40,240, while the Model Y Performance SUV starts at $52,490, down from $54,490. These price cuts are part of Tesla's strategy to boost demand amid concerns over slowing consumer spending and increased competition in the electric vehicle market. Despite the delivery shortfall, Tesla's CEO Elon Musk aims to prioritize higher volume over bigger margins, and the company's stock has risen by over 100% this year.