Electreck reports that Tesla has reduced prices on almost all of their models.Tesla did this in response after a decrease in demand that could be attributed to the global pandemic. Some of the models have lowered in price by thousands.

The Model 3, the cheapest one, had a $2,000 cut. The price is now $37,990 for the Standard Range Plus, before it was 39,990.

The Model S had a bigger price cut than the Model 3. The Model S Long Range Plus and the Model S Performance had a $5,000 reduction overnight. The Long Range Plus is now $74,990 and the Performance is now $94,990.

The Model X also had a $5,000 reduction in both the Performance and Long Range Plus. This model is now at 80,000 due to Tesla offering a smaller battery pack.

The Model Y is the latest model, but has had no price reduction.

According to The Verge, Tesla plans to reduce model prices in China as well, but cars produced in China will not face a price change. But according to Weibo, Tesla’s Shanghai factory will cut prices on S and X models and keep the Model X’s price as it is.

Who knows if prices will stay the same. Things have not been clear or certain during this pandemic. It is understandable why Tesla reduced the prices, but at the same time who would want to commit to a big financial decision like buying a car? I guess lowering the price of the models will keep the inventory from collecting dust and give potential buyers an opportunity to buy a cheaper Tesla that could not be any cheaper in the future.