Tesla has cut the price of its Model 3 and Model Y cars for the second time this year.
It follows a similar move the manufacturer made in January, and is seen as an attempt to offload stock that is taking its time to shift.
The cuts vary in amount with, for example, the price of a Model 3 reduced by up to 8.3 percent.
Source: Tesla UK website
Meanwhile, six percent reductions can be made on the Y model.
January’s price cut caused Model Y monthly payments to soar 57% in one day due to falling residuals.
It also saw the price of used Teslas plummet by £14,000 overnight.
Car dealer editor-in-chief James Baggott said: “This latest cut will have ramifications for the used car market, where Tesla prices have fallen by up to 20 per cent since October.
“Used Tesla Model 3s and Ys are free-falling in value and the automaker’s aggressive moves to lower prices on new models will have a big impact on the used car market.
“We’re already seeing it, with the price of long-term financing deals for Tesla rising as the price cut snowballs into the used market.”
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