• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

Meet a 71-year-old who retired as a radiologist and professor, and now runs a banana-skewer business: ‘I never want to retire. Why would you do that?’

3

Hilton received 12,000 Gen Z applications for just 72 internship spots—its CHRO says AI has made the hospitality gigs more competitive

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

Meet a 71-year-old who retired as a radiologist and professor, and now runs a banana-skewer business: ‘I never want to retire. Why would you do that?’

3

Hilton received 12,000 Gen Z applications for just 72 internship spots—its CHRO says AI has made the hospitality gigs more competitive
TechTesla

Tesla is cutting prices for the fifth time this year

By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
April 7, 2023, 11:11 AM ET
Tesla has cut prices for the fifth time this year.
Tesla has cut prices for the fifth time this year. Yuan Bing/VCG via Getty Images
Google source logo
Add Fortune on Google for similar content.

Teslas are getting cheaper. Again.

For the fifth time since January, the automaker has lowered prices on select models, as it looks to entice fence-sitters and fend off competition from a growing number of automakers.

Tesla has lowered the price of the Model S and Model X by $5,000 each, bringing the cost to $84,990 and $94,990, respectively. The Model 3 sedan, meanwhile, as well as the Model Y SUV saw reductions of $1,000 and $2,000, bringing them to base prices of $41,990 and $49,990.

The cuts come roughly a month after the company cut the prices of its Model S luxury sedan and its Model X SUV. Tesla CEO Elon Musk, at an investor presentation earlier this year, said the price reductions have had a “big effect on demand, very big.”

Tesla is reducing retail prices as it says stricter U.S. standards will reduce the $7,500 tax credit that’s currently available for the Model 3. At the same time, several automakers are becoming more price competitive as consumer interest in electronic vehicles continues to grow. Ford, for instance, has lowered the price of the Mustang Mach-E by an average of $4,500 per car.

Those price cuts could stimulate consumer interest, but they’ll also likely cut into profits for Tesla (and other automakers), which has some Tesla shareholders grumbling about the move.

Existing customers aren’t real happy either, as those who bought models just days before previous Tesla price cuts were announced say they were not offered any sort of compensation or make-good.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

See full bioRight Arrow Button Icon

Latest in Tech


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Tech


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.