Tesla lowers price of 2 models in US amid decline in deliveries

By Ovunc Kutlu

ISTANBUL (AA) - American electric carmaker Tesla on Friday lowered the price of its two models in the US market as deliveries posted a decline and came lower than expectations.

The company's Model 3 Rear-Wheel Drive starts from $38,990, which was over $40,240 previously; while Model Y All-Wheel Drive starts from $48,490, down from more than $50,000, according to its website.

Tesla produced over 430,000 vehicles and delivered more than 435,000 during this July-September period, according to its statement on Oct. 2, which missed market estimates.

The figures, however, are down from 480,000 vehicles produced and more than 466,000 delivered in the preceding three-month period of April-June.

Tesla announced last week that "a sequential decline in volumes was caused by planned downtimes for factory upgrades" and added that the company's volume target of approximately 1.8 million vehicles remains unchanged for this year.