Classic Mustang, Plymouth Satellite and more get electric upgrade
A group of car enthusiasts and tinkerers are turning old sports cars and muscle cars into electric vehicles.
Cody Godwin, USA TODAY
Tesla delivered a record number of vehicles in the first quarter, beating estimates after a series of price cuts stoked demand.
Elon Musk’s electric car automaker on Sunday said it produced 440,808 vehicles and delivered 422,875. Sales were up 4% from the previous quarter.
The more affordable Model 3 and Model Y vehicles made up about 97% of the deliveries. Both models saw dramatic price cuts earlier this year, with the lowest-priced Model 3 dropping 6.4% and the Model Y Long Range falling nearly 20% in January.
Tesla expects to produce roughly 1.8 million cars by the end of the year, although CEO Musk in January said the company has the potential to hit 2 million.
Why did Tesla cut prices?
January’s price cuts allowed some of Tesla’s cars to qualify for a federal electric vehicle tax credit and helped drive demand.
“Affordability is what matters,” Musk said during Tesla’s investor day last month. “As you make the car more affordable, we’ll have demand go crazy.”
How much did Tesla cut prices?
After January’s price cuts, Tesla again dropped starting prices for select vehicles in March. Prices for the Model S and Model X models fell between 4% and 9%, according to Tesla’s website.
Here are the current prices for Tesla’s vehicles:
- Model S: $89,990
- Model S Plaid: $109,990
- Model 3: $42,990
- Model 3 Performance: $53,990
- Model X: $99,990
- Model X Plaid: $109,990
- Model Y Long Range: $54,990
- Model Y Performance: $58,990
More details are expected on April 19, when Tesla posts its first-quarter financial results.
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