Enlarge (credit: Tesla)

In the past, Tesla CEO Elon Musk has repeatedly claimed that his company's cars are appreciating assets. But this week, Tesla dropped the prices of its cars—and not for the first time this year. As we reported on Monday, despite sales growing by 36 percent globally, the automaker missed its ambitious target and will need to grow even faster in the remaining months of the year to satisfy investors.

Perhaps these cuts will help. The biggest price decreases are for the Model S sedan and Model X SUV. All versions of these electric vehicles are now $5,000 cheaper than they were last week, following similar $5,000 price cuts a month ago and much larger price cuts in January that saw the Model S Plaid shed $21,000 from its MSRP.

Model 3 sedans are now $1,000 cheaper across the board, marking their third price cut in recent months. A rear-wheel-drive Model 3 now starts at $41,990—in January, this version cost $43,990; it then dropped another $500 in February. Tesla notes that the RWD Model 3 will also lose half of the IRS clean vehicle tax credit starting on April 18, although all-wheel drive Model 3s and all Model Ys will still be eligible for the full $7,500 credit.

Enlarge / The Ioniq 6 will be the next EV to debut using Hyundai's clever new E-GMP architecture. It goes on sale in the US later this year. (credit: Jonathan Gitlin)

This morning, Hyundai revealed that the US Environmental Protection Agency has finalized an official range estimate for the brand's next electric vehicle, the Ioniq 6 sedan. At 361 miles (581 km), it's certainly impressive, even beating the longest-ranged Tesla Model 3 sedan.

As those familiar with EVs already know, not every version of the Ioniq 6 has quite so much range. You'll need the single-motor rear-wheel drive version, riding on 18-inch wheels, for maximum efficiency. Helpfully, this will be the cheapest version on sale in the US. The company has not announced pricing yet, but expect it to be similar to that of the Hyundai Ioniq 5 crossover.

Adding larger wheels helpfully illustrates the deleterious effect they have on an EV's range efficiency. With 20-inch wheels, the single-motor Ioniq 6's range is 305 miles (491 km).