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Evening Standard

Business

Simon Hunt

Tesla slashes car prices prompting backlash from existing owners

Tesla Inc. Elon Musk Twitter Inc. United States

Tesla has begun slashing the prices of its electric vehicles in Europe and the US in a bid drive up sales amid dwindling consumer demand, sparking fury from existing owners.

Prices of the carmakers Model 3 Performance vehicle were cut by 14.3% in the US, according figures from Reuters, while the price of the Model Y Rear Wheel Drive vehicle was reduced by 16.8% in Germany.

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