Electric car company Tesla has cut prices on some of its top models, Business Insider reports. Specifically, prices for the Model Y and Model 3 have been reduced by 20% in the US and Europe.

While the cars remain relatively expensive, this is a big premium price cut. Moreover, the company had previously only raised the prices of its cars for several months.

The price cuts follow the company’s failure to estimate market estimates for deliveries last year amid an economic downturn that saw its market capitalization shrink from $1 trillion to less than $400 billion.