Tesla Announces Price Drop , Ahead of Q1 Earnings Report.<br />ABC reports that Tesla has announced its fourth price cut <br />in the United States this year, lowering the starting<br />costs of the company's two top-selling models.<br />Tesla dropped the price of <br />the Model Y small SUV, <br />the company's top-seller, by $3,000. .<br />The company's Model 3 small <br />sedan also saw its price drop <br />about 5%, equal to $2,000.<br />ABC reports that the price cuts to the Model 3 <br />will make more cars eligible for the U.S. <br />government's $7,500 electric vehicle tax credit.<br />A Model 3 loaded with options would exceed <br />the government's $55,000 price limit required <br />to be eligible for the tax credit.<br />After experiencing a major dip in 2022, <br />Tesla stock has bounced back in 2023, <br />rising 50% since the year began.<br />Earlier this week, Tesla announced <br />similar price drops overseas, including <br />in Europe, Israel and Singapore.<br />According to Tesla CEO Elon Musk, <br />affordability has limited potential <br />demand for the company's vehicles.<br />According to Tesla CEO Elon Musk, <br />affordability has limited potential <br />demand for the company's vehicles.<br />There is plenty of demand for <br />our products, but if the price <br />is more money than people have, <br />that demand is irrelevant, Elon Musk, Tesla CEO, via Twitter.<br />ABC reports that Tesla's first-quarter sales <br />increased by 36%, fueled by previous price cuts, <br />but still came in under analysts' expectations.<br />Between January and March, Tesla said that it delivered <br />a quarterly record of 422,875 vehicles worldwide, <br />up over 100,000 units from the same time in 2022.<br />Between January and March, Tesla said that it delivered <br />a quarterly record of 422,875 vehicles worldwide, <br />up over 100,000 units from the same time in 2022
