Tesla slashes prices on vehicles in effort to rev up sales

Maria Leaf

January 13, 04:22 PM January 13, 04:36 PM

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Electric vehicle manufacturer Tesla has announced it’s reducing the price on some of its models due to slow sales.

Drivers can now pay roughly 20% less for the Model Y SUV, and about 6% less for the Model 3.

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The price drop will now allow buyers to take advantage of a $7,500 electric vehicle tax credit.

While the move is good news for those who have been waiting for a sale to buy a Tesla, some current owners aren’t happy.

“W*f man, our Dec 16th delivered car for $66,000 total is now valued at $37k to $40k on teslas own trade in,” one owner wrote in a subreddit.

“I cannot believe it. That is f*****g insane, I feel ripped off,” another remarked.

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The announcement didn’t seem to mean much on Wall Street as Tesla’s stock finished Friday down 1.16 points at $122.40 per share.