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Tesla Inc.

is cutting the price of its Model 3 sedan for the second time this year, citing the end of a customer-referral program that was a more costly incentive than the company realized.

All versions of the Model 3 will cost $1,100 less, lowering the starting price of the car to $42,900. The move follows a $2,000 price cut on all Teslas announced in early January to partially offset the reduction in the U.S. federal tax credit its vehicles were eligible for.



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What Does This Mean? Tesla Cuts Model 3 Prices For Second Straight Month

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