Connect with us

Austin, TX

Tesla cuts U.S. prices for 3 of its electric vehicle models

Published

on

Tesla cuts U.S. prices for 3 of its electric vehicle models


Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk.


What You Need To Know

  • Tesla knocked $2,000 off 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
  • The cuts reduced the starting price for a Model Y to $42,990 and to $72,990 for a Model S and $77,990 for a Model X
  • The move came the day after Tesla’s stock tumbled below $150 per share, eliminating all gains made over the past year
  • Prices for the Model 3 sedan and the Cybertruck stayed the same

The company cut 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 cuts reduced the starting price for a Model Y to $42,990 and to $72,990 for a Model S and $77,990 for a Model X.

Advertisement

The move came the day after Tesla’s stock tumbled below $150 per share, eliminating 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.

Musk posted early Saturday on X, the social media platform known as Twitter before he acquired and renamed it, that the cost of an entry-level Tesla was as low as $29,490 once a federal tax credit and gas savings were factored in.

Industry analysts have been waiting for Tesla to introduce a small electric vehicle that would cost around $25,000, the Model 2. Media reports this month that Musk planned to scrap the project created more uncertainty over the company’s direction, although Musk called them untrue.

The price cuts ended a long workweek at Tesla, which announced Monday that it was cutting 10% of its staff globally, about 14,000 jobs. The company also said it was recalling nearly 4,000 of its 2024 Cybertrucks after discovering the accelerator pedal can get stuck, potentially causing the vehicle to accelerate unintentionally and increase the risk of a crash.

On Saturday, Musk confirmed he had postponed a planned weekend trip to India to meet with Prime Minister Narendra Modi, citing “very heavy Tesla obligations.” He said on X that he looked forward to rescheduling the visit for later this year.

Advertisement

Tesla is scheduled to announce its first-quarter earnings on Tuesday.

The company reported earlier this month that its worldwide sales fell sharply from January through March as competition increased worldwide, electric vehicle sales growth slowed, and earlier price cuts failed to lure more buyers.

It was Tesla’s first year-over-year quarterly sales decline in nearly four years.



Source link

Advertisement

Austin, TX

Austin: Community Vigil for Lorenzo Salgado Araujo

Published

on

Austin: Community Vigil for Lorenzo Salgado Araujo


Join several Austin labor unions and community members to honor Lorenzo Salgado Araujo’s life and the countless immigrants who have been impacted by ICE.

The community vigil will take place at the Wildflower Church on Saturday, July 11th starting at 6 PM. All are welcome to bring flowers and candles as we honor the loss of life and grieve the separation of families.

Community Vigil Details
🗓️ July 11, 2026 | 6:00 – 8:00 PM
🗺️ 1314 E Oltorf St, Austin, TX 78704
🚗 Public transit and rideshare encouraged! Limited parking available and overflow parking may be available at Travis High School.

Please consider donating to the family’s GoFundMe if you are able: https://bit.ly/atx4lorenzo

Advertisement



Source link

Continue Reading

Austin, TX

Think tank says state education reforms have set up future of the ‘Texas Miracle’

Published

on

Think tank says state education reforms have set up future of the ‘Texas Miracle’


AUSTIN (KXAN) — A report released by the think tank Texas 2036 claims that ten state laws implemented between 2019 and 2025 led to “one of the nation’s most comprehensive strategies for connecting education to careers.”

The report is titled “The Next Generation of the Texas Miracle.” It can be read below.

Mary Lynn Pruneda, Texas 2036’s director of education and workforce policy, said in an announcement accompanying the report that the reforms have been steps in the right direction.

“Texas has a bright economic future ahead of it, but we have to make sure that Texas students are equipped to share in this prosperity,” she said. “Texas needs to double down on improving and investing in high-quality career pathways so that all Texas students can take part in the Texas Miracle. Thankfully, due to the Legislature’s great work over the past four sessions, we are on our way to that critical goal.”

Advertisement

The report gives several data points, such as a 532% increase in high schoolers earning “post-secondary credentials” since 2018, or that community colleges awarded 140,000 “credentials of value” in 2024.

It paints a rosy picture of the future Texas economy, but doesn’t source its data or explain how it reached these conclusions. It’s apparent that the think tank wants further laws related to Texas’ workforce and education.

“Texas 2036 is actively engaged in that process, pushing for data modernization and interoperability reforms that would allow the state to track whether credentials are meeting real employer needs in communities across the state,” said the think tank in its announcement.

Grace Atkins, policy advisor of postsecondary education for Texas 2036, called the think tank’s report “encouraging.”

“The early results are encouraging: more students are earning credentials that can help them move into good jobs, and that is real progress,” she said. “For students and families, these pathways can be the difference between getting by and getting ahead. The next step is making sure more Texans can earn credentials that lead to strong wages, real career options and greater economic mobility.” 

Advertisement



Source link

Continue Reading

Austin, TX

Austin cannabis shop: THC ban would “hurt everybody”

Published

on

Austin cannabis shop: THC ban would “hurt everybody”


After Senator Charles Perry vowed to introduce another bill to ban THC in Texas next legislative session, an Austin cannabis shop owner is urging lawmakers to find a middle ground.

Estella Castro owns Austinite Cannabis Co., a family-owned shop that makes and sells cannabis and hemp products.

Austinite Cannabis Co. (Photo: CBS Austin/Audrey Wong)

Her business has faced a potential THC ban before. During the 2025 legislative session, Senate Bill 3 attempted to enact a broad ban on all cannabinoids except CBD and CBG.

Advertisement

Castro says she was most worried for her customers. “It was a big initial hit of like, what are we gonna do? How are we gonna pivot? How are we gonna keep the doors open for everybody to keep their jobs?” she said.

RELATED | Texas state senator plans to introduce new THC ban bill in upcoming session

That bill passed, but was later vetoed by Governor Greg Abbott. Similar legislation failed to pass during the subsequent special session.

However, the possibility of a total ban bill being introduced and passed next session could spell trouble for Austinite Cannabis.

During a hearing Tuesday, July 7, Senator Charles Perry vowed to present such a bill next session as public officials, medical experts, and others discussed THC’s medical uses, effects on minors, and regulation.

Advertisement

Castro says over half of the store’s revenue comes from products that contain THC.

“I would say it’s about a 60/40 split: 60% THC and 40 CBD… So feel like it is a huge number that affects my store in so many ways,” she said.

ALSO | Texas French Bread reopens dining room four years after fire

She feels that a total ban on THC would negatively affect multiple parties.

“Banning it is just hurting the consumer,” she said. “Making the consumer go and find a street dealer… killing any dispensaries… it’s gonna hurt your small business owner.”

Advertisement

If another THC ban bill is written, it will be introduced during the next legislative session, which begins in January 2027.

In the meantime, Castro’s two stores will continue to operate as normal. She hopes lawmakers will think twice about instituting a complete ban on THC.

“I feel like we’re better than that, you know, we’re Texas,” she said. “We need to find some middle ground where it’s not a complete ban, and we can still be able to come together.”



Source link

Advertisement
Continue Reading
Advertisement

Trending