Tesla cut prices in the United States between 2% and nearly 6%, its website showed on Thursday, as the company extends a discount drive on its electric vehicles that analysts caution could hurt profitability.
The fifth such cut in Tesla’s largest market since the start of the year comes as the United States prepares to adopt tougher standards this month that are expected to limit EV tax credits.
Tesla (TSLA) cut prices on both versions of its Model 3 sedan by $1,000 and on its Model Y crossover by $2,000, the website showed. It also cut prices on both versions of its more expensive Model S and Model X by $5,000.
The company has said the tougher U.S. standards would reduce the $7,500 tax credit available for its base, rear-wheel drive Model 3 since January.
The National Highway Traffic Safety Administration (NHTSA) on Friday said it will probe the March 15 crash in North Carolina that injured a 17-year-old charter school student. The State Highway Patrol said the driver of the 2022 Tesla Model Y, a 51-year-old man, didn’t stop for the bus, which was displaying all of its activated warning signs.
Sending special investigation teams to crashes means the agency suspects the Tesla operating system that handles some aspects of driving, including Autopilot and “Full Self-Driving” is partially to blame.
Tesla, which has dismantled its media relations department, could not be reached for comment. Despite the names, Tesla has said the driver-assist system must be monitored and that drivers must be ready to intervene at all times.
NHTSA has sent investigative teams to more than 30 crashes since 2016 in which Teslas suspected of operating on Autopilot or “Full Self-Driving” have struck pedestrians, motorcyclists, semi trailers and parked emergency vehicles. At least 14 people have died in the crashes.
What does a Tesla vehicle cost?
Tesla cut the prices of its slower-selling Model S and Model X vehicles by $5,000 to $84,990 and $94,990, respectively. Last month, the automaker slashed the models’ prices between 4% and 9%.
The company also trimmed the costs of its more affordable Model 3 and Model Y vehicles by $1,000 and $2,000, respectively.
It said Yeh was filing the complaint “against Tesla on behalf of himself, similarly-situated class members, and the general public.” The complaint said the prospective class would include individuals who owned or leased a Tesla within the past four years.
Reuters reported that some Tesla employees could see customers “doing laundry and really intimate things. We could see their kids,” citing a former employee.
“Indeed, parents’ interest in their children’s privacy is one of the most fundamental liberty interests society recognizes,” the lawsuit said.
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