Tesla cuts prices in US to spur demand

Tesla Inc (TSLA.O) has slashed prices of its electric vehicles in the United States, its website showed on Thursday, doubling down on a discount drive against the backdrop of a weakening economy.

The cuts ranged from 1.9% on the performance version of the Model 3 to 5.6% on the basic version of the Model S. Tesla did not immediately respond to a request for comment on the reductions.

The move follows repeated comments in recent months by Chief Executive Elcon Musk that Tesla would focus on lowering prices to spur demand and had seen success in sparking orders with global discounts introduced in January.

Tesla has cut prices on both versions of its Model S. The price of the basic version was cut by 5.6% to $84,990, while the price of the performance, Plaid variant was cut by 4.5% to $104,990.

Prices of both the performance and basic variants of Model 3 cars were cut by $1,000, the website showed. The price of the basic version of the Model 3 was cut by 2.3% to $41,990 while its performance version was cut by 1.9% to $52,990.

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