Tesla cuts Model 3 and Model Y prices in the U.S. after car deliveries fall - CNBC

Tesla cut the price of some Model 3 and Model Y versions in the U.S. after the company reported third-quarter deliveries that missed market expectations.
The starting price for the Model 3 is listed at $38,990 on Tesla’s website, down from $40,240 previously. The long range Model 3 fell from $47,240 to $45,990. And the Model 3 Performance fell to $50,990 from $53,240.
Tesla’s Model Y Performance sports utility vehicle now starts at $52,490, down from a previous price of $54,490.
Beginning at the end of last year, Tesla began cutting the prices of its cars across the world in a bid to stoke demand amid concerns over slowing consumer spending in markets like the U.S. and China and as competition in the electric vehicle space ramped up.
Despite $TSLA YTD price cuts, WS consensus TSLA delivs for FY’23 and FY’24 have actually DECLINED since ASP and auto gross margins were reduced at the beginning of the year.  Uberbulls argue that rising int rates have caused the decline but if that were true why is US industry SAAR up +15% YoY with the same int rate increases?  This suggests that price elasticity of demand for Teslas - which are luxury goods - is essentially zero, and TSLA mgmt should find other marketing levers beside price to accelerate the world’s transition to sustainable energy.