Because of the shortfall in delivery, Tesla has decreased the cost of certain of its vehicles in many countries.

In an effort to boost sales, Tesla will provide discounts on a selection of automobiles in the United States and the European Union.

With demand slowing and supply chain issues proving difficult to overcome, Tesla has chosen to change its strategy after failing to meet Wall Street’s projections for the number of vehicles it will build in 2022. The company has taken preemptive measures by reducing the cost of some of its most popular products for the year 2022.

Previously selling for $65,990 in the US, the price of a Model Y Long Range has been slashed by 20% to $52,990. More than $20,000, or 30%, was cut from the SUV’s original price thanks to a $7,500 US Federal Tax Credit it is now qualified for.

We are especially happy to see the Model 3’s price drop because it is Tesla’s most popular vehicle. According to Engadget, the price of the rear-wheel drive Model 3 has dropped from $46,990 to $43,990.

The most significant decrease is for the Model Y Performance, which has gone from £79,990 to £59,990 in the UK. Compared to yesterday, the price has climbed by £8,000. AutoCar also reports that the base Model Y has had its price reduced by £7,000, bringing the total price of a Tesla SUV down to £44,990.

Reports by Reuters out of Europe state that “customers purchasing the Model 3 for 44,990 euros ($48,773) will now receive a further price decrease through a government subsidy of 5,000 euros.” Furthermore, “price for the Model 3 and the Model Y was reduced by around 1% to almost 17% in Germany, depending on the configuration.” The company has admitted that the extra price would be applied automatically to individuals who are still waiting for delivery, which is bad news for people who have just purchased a new Tesla. While that may be good news for used-car buyers, it does nothing for customers who have recently taken delivery of brand-new vehicles that have dropped in value.