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.