It’s the sixth price cut at Tesla since the new year.  -  IMAGE: Pixabay/Blomst

It’s the sixth price cut at Tesla since the new year.

IMAGE: Pixabay/Blomst

Tesla has again cut prices on its models in the U.S., just before its first-quarter earnings announcement, the latest in a series of reductions it started in January.

The electric-vehicle market leader cut $3,000 from the price of its Model Y and $2,000 from the Model 3 Rear Wheel Drive.

It’s the sixth price cut at Tesla since the new year, when its sticker-slashing moves ignited a price war among EV makers, including Ford.

The carmaker is working to compete with legacy brands that have ramped up EV production in their moves to eliminate gas-powered models. A weakening economy is also impacting its margins.

Tesla will announce first-quarter earnings late Wednesday.

LEARN MORE: Slashing Prices Led Tesla to Soaring Deliveries

Originally posted on Auto Dealer Today

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