Tesla Cuts Model S Pricing By 4% To $71,990 In U.S.

Tesla has trimmed the price of its Model S “Long Range Plus” variant by 4% in the United States to $71,990 from $74,990. The EV-maker also slashed pricing for the entry-level Model S in China, but by 3%, as per Reuters.

This comes less than a month after Tesla dropped pricing for China-made Model 3 sedans by roughly 8% to 249,000 yuan ($36,805).

If you’d rather have the Model S Performance instead, its price tag now reads $91,990 instead of $94,990. The Model S Plaid meanwhile is still listed at $139,990, same as before.

Tesla announced its quarterly stats recently, having delivered 139,300 units in Q3 – an all-time record. However, shares still went down as some analysts doubted the company’s ability to hit its ambitious year-end target. That being said, Tesla shares have already gone up more than five times this year.

According to Electrek, the carmaker is estimating a 4 to 8 weeks delivery time for both the Long Range Plus and the Performance spec Model S in the U.S. As for Canada, the Model S now starts at $101,990 CAD ($77,800), meaning this sudden price change is being applied to multiple markets.

You might recall that this isn’t even the first price reduction as far as the Model S is concerned for 2020. That previous figure of $74,990 that’s now morphed into $71,990, actually stood at $79,990 in late May. So between that time and October, we’re looking at a total of $8,000 being slashed off the entry MSRP.

Back in July, Tesla also cut Model Y prices by $3,000, bringing entry-level Long Range variants just below $50,000.