Tesla stock falls on fresh price cuts in United States

Tesla (NASDAQ:) stock fell about 1.5% in premarket trading on Friday following the company’s decision to once again reduce prices on some of its popular electric vehicles (EVs) in the United States.

The adjustments in pricing include the Model 3 sedan, which was lowered to $38,990 from $40,240, the long-range Model 3, now priced at $45,990 down from $47,240, and the performance model reduced to $50,990 from $53,240.

Furthermore, the Model Y performance sport utility vehicle saw a price reduction to $52,490 from $54,490.

These price cuts occurred shortly after Tesla’s third-quarter deliveries fell short of analysts’ estimates.

Tesla stock is up 111% year-to-date as of the last close.