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.
