Tesla Slashes Prices Yet Again, This Time on Model S, Model X
It's been a rollercoaster few months for Tesla pricing, and those who just purchased a Model S sedan or Model X SUV may be annoyed by the latest adjustments.
As Reuters notes(Opens in a new window), the Model S is now $5,000 cheaper—a 4% discount—while Tesla shaved $10,000 off the price of a Model X, a 9% cut. Get the standard Model S for $89,990 or the Plaid performance version for $109,990. The all-wheel-drive (AWD) Model X, meanwhile, is now $99,990 while the Plaid version starts at $109,990.
The move is Tesla's fifth price cut since the start of 2023, Reuters says, which may give some potential buyers pause, given that their desired vehicle could be thousands of dollars less just a few weeks from now.
In January, for example, the full lineup saw price cuts, most notably the 20% reduction for the Model Y, which made it eligible for the $7,500 federal EV tax credit. That came after the luxury car maker offered a $7,500 discount on all orders placed by the end of 2022.
"The desire for people to own a Tesla is extremely high," CEO Elon Musk said during last week's Tesla investor day. "The limiting factor is their ability to pay for a Tesla."
It's a familiar refrain from Musk. During a Q3 earnings call last year, Musk said that Tesla's next big vehicle launch would be a smaller, cheaper vehicle (once the Cybertruck launches, that is). “Our next-generation vehicle will be about half the cost [of the Tesla Model X, Y], it’ll be smaller, but it will swiftly exceed production of all our other vehicles combined," he said.
Not surprisingly, Tesla's cheaper models are more popular with buyers. The Model 3, which currently starts at $42,990, and the Model Y, with a base price of $54,990, made up the bulk of Tesla's deliveries in
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