Elon Musk-led Tesla on Friday cut prices of its Model 3 and Model Y vehicles in the US, according to the electric vehicle maker's website.

Tesla slashed the prices for its Model 3 sedan to US$38,990 from US$40,240, while the price for its Model Y long-range vehicle was cut to US$48,490 from US$50,490, the website showed.

The company also cut prices for its Model Y performance variant to US$52,490, Model 3 long range to US$45,990, and Model 3 performance to US$50,990.

The price for the base Model Y, which Tesla reintroduced earlier this week, remained the same at US$43,990. Prices for the higher-priced Model S and Model X did not change either.

  - Reuters