Tesla’s two most expensive cars are now thousands more than they were yesterday. The price bump comes in spite of what the brand’s CEO indicated earlier this week when Tesla missed its first-quarter margin target. The Model S and Model X prices still remain far below what they were at the end of 2022.
As of April 21st, 2023, the Model S and Model X both cost between about $2,200 and $2,700 more than they did earlier this week, depending on the trim, with the flagship sedan starting from $85,000 and the crossover from $95,000. However, Tesla added three years of free Supercharging too.
Nevertheless, that’s a complete reversal of what Elon Musk said Wednesday during an earnings call with investors. “We’ve taken a view that pushing for higher volumes and a larger fleet is the right choice here versus a lower volume and a higher margin,” he said.
Seemingly as a result of that statement, Tesla stock saw a dive of almost 10 percent the next day. Today, the day after that, the Model X and Model S cost more. What an interesting coincidence. Analysts point to future profits and a long-term strategy as the reason that Tesla seems so willing to ditch margin at the moment.
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“Tesla’s room to lower prices is not just limited to shrinking its superior margins; the EV maker seems conceptually ready to give away its hardware in the near-term in hopes of richly monetizing its software in a more distant future,” said Deutsche analyst Emmanuel Rosner reports Reuters.
If it seems like Tesla’s prices are in a constant state of flux, that’s because they are. We’ve reported on the company’s price changes several times these past few months alone (see here, here, here, here, and here).
We’ve already told you about how automakers plan to continue selling subscription-based features and more in the long term. This move could be one with eyes focused on exactly that. For now, though, the price bumps on the Model S and Model X still come with big perks including three years of free supercharging.
On top of that, it’s worth noting that both models are still thousands cheaper than they were at the beginning of the year. As of this writing, the stock has itself bumped up today by 1.28 percent.
