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

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

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

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

(This story has been refiled to correct the day to Thursday, not Friday, in paragraph 1)

(Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi Aich and Varun H K)