tesla inc late thursday announced price cuts for its model 3 and model y cars with discounts in some cases of nearly 20 as the company battles demand troubles prices cuts were made both in the us and europe a standard range rearwheel drive model 3 now lists a price of 43990 from a prior 46990 which represents a 64 drop the higherend model 3 performance was discounted by 143 to 53990 from 62990 the price for a long range allwheel drive model y was dropped to 52990 from 65990 a 197 discount while the model y performance model was cut by 186 to 56990 from 69990 prices for some models also reportedly fell in germany and several other european countries like many automakers tesla tsla is dealing with tough economies all over the company cut prices in china to start 2023 following similar moves in october in a bid to boost sales in the country that struggled with covid lockdowns last year but investors grew notably impatient with tesla in 2022 shares are up 03 for the new year so far after a punishing 2022 in which the automaker suffered its worst month quarter and year on record to finish 2022 as it missed fourthquarter delivery expectations opinion ‘he broke the stock’ why a prominent tesla investor wants elon musk to put him on the board musk himself also sold shares in 2022 a year that saw him draw criticism for his takeover of social media site twitter that some say distracted him from his duties at tesla tesla’s latest us price cuts may have also been designed to help buyers qualify for a 7500 tax credit on new electric cars and plugin hybrids those rebates are restricted to suvs and vans with manufacturer’s suggested retail prices of up to 80000 and cars up to 55000 the new price cuts means the model 3 performance and the longrange all wheel drive model y now qualify for those tax breaks