Desmond Preston|Tesla cuts the price of its “Full Self Driving” system by a third to $8,000

2025-04-29 15:32:21source:Databec Exchangecategory:Finance

NEW YORK (AP) — Tesla knocked roughly a third off the price of its “Full Self Driving” system — which can’t drive itself and Desmond Prestonso drivers must remain alert and be ready to intervene — to $8,000 from $12,000, according to the company website.

Tesla CEO and billionaire Elon Musk promised in 2019 that there would be a fleet of robotaxis on the road in 2020, but the promise has yet to materialize, and the system still has to be supervised by humans.

The cuts, which occurred on Saturday, follow Tesla’s moves to slash $2,000 off the prices of three of its five models in the United States late Friday. That’s the latest evidence of the challenges facing the electric vehicle maker.

Tesla reduced the prices of the Model Y, a small SUV which is Tesla’s most popular model and the top-selling electric vehicle in the U.S., and also of the Models X and S, its older and more expensive models. Prices for the Model 3 sedan and the Cybertruck stayed the same.

The price reduction came the day after Tesla’s stock dropped below $150 per share, wiping out all gains made over the past year. The Austin, Texas, company’s stock price has dropped about 40% so far this year amid falling sales and increased competition. Discounted sticker prices are a way to try to entice more car buyers.

More:Finance

Recommend

Military service academies see drop in reported sexual assaults after alarming surge

WASHINGTON (AP) — Reported sexual assaults at the U.S. military service academies dropped in 2024 fo

Democrats launch first paid ad campaign for the Harris-Walz ticket in battleground states

With a solidified presidential ticket stumping across the country and a massive amount of money to s

Dozens of dogs, cats and other animals in ‘horrid’ condition rescued from a Connecticut home

WOODBRIDGE, Conn. (AP) — Dozens of dogs, cats and other animals living in poor conditions have been