Tesla has cut prices of the Model S and Model X In the United States by as much as 9 per cent.
Updates to Tesla’s website first revealed the changes. For the Model S, the entry-level model’s price has dropped by 5 per cent to $89,990 while the price of the Model S Plaid has been reduced by 4 per cent to $109,990.
Additionally, prices of both variants of the Model X have been cut by $10,000. This means that the basic version of the all-electric SUV now starts at $99,990, a 9 per cent reduction, while the Model X Plaid can be picked up for $109,990, an 8 per cent reduction in price.
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These price cuts come shortly after Tesla chief executive Elon Musk discussed the importance of cutting prices during the carmaker’s recent Investor Day.
“The desire for people to own a Tesla is extremely high,” he said. “The limiting factor is their ability to pay for a Tesla.”
Tesla triggered headlines in January when it announced even more substantial price cuts with a particular focus on the Model 3 and Model Y. Prices of the Model 3 sedan were slashed by as much as 14 per cent while the starting price for a Model Y fell by almost 20 per cent.
The car manufacturer continued to tweak prices throughout January and February. Indeed, in February, the price of the Model Y Performance jumped by $1,000 while the price of the Standard Range AWD was increased by $500.
