Tesla lowers the prices of its most expensive models

Tesla lowers the prices of its most expensive models

According to the company’s website, Tesla has reduced prices on its two most costly electric vehicles in the United States, only days after CEO Elon Musk stated previous price cuts on other models have spurred demand.

Details about Tesla lowers the prices of its most expensive models

Tesla’s fifth price decrease since the beginning of the year ranged from 4% on the performance version of the Model S to 9% on the more expensive Model X.

Musk has stated frequently in recent months that Tesla will focus on lowering prices to increase demand, and that the global discounts given in January were successful in generating orders.

“The desire to acquire a Tesla is quite strong. “Their ability to pay for a Tesla is the limiting constraint,” Musk stated last week at Tesla’s investor day.

Tesla did not reply immediately to a request for comment on the new price decreases.

In January, Tesla lowered prices on all of its vehicles in all of its markets, offering discounts of up to 20% in what many analysts considered as the start of the electric vehicle market leader’s price war.

Since then, it has been modifying pricing at a rate and frequency that exceeds what established automakers have attempted in an industry where a car’s base price is still referred to as a “sticker price” on an inventory vehicle.

The Model S and Model X, which are available in all-wheel drive (AWD) and performance “Plaid” models, will account for around 4% of Tesla’s global deliveries in 2022. The rest was made up of its two less expensive vehicles, the Model 3 sedan and Model Y crossover.

Tesla’s website indicated that it had reduced the price of both Model S models by $5,000. The base Model S was reduced by 5% to $89,990, while the performance, Plaid variant was reduced by 4% to $109,990.

The prices of both the performance and base Model X automobiles have been reduced by $10,000, according to the electric vehicle manufacturer’s website. The basic AWD version of the Model X has been reduced by 9% to $99,990, while the performance Plaid version has been reduced by 8% to $109,990.

According to Reuters, Tesla is planning a new version of the Model 3 nicknamed “Highland” for later this year, as well as a tweak to the Model Y called “Juniper” for next year.

Leave a Reply