Tesla has announced price cuts for its two most expensive electric vehicles in the US, according to its website. The reduction marks Tesla’s fifth adjustment since the start of the year, ranging from 4% on the performance version of the Model S to 9% on the more expensive Model X.
CEO Elon Musk has repeatedly stated that the company will focus on lowering prices to boost demand, and it has seen success with global discounts that were introduced in January. Musk said that demand for Tesla vehicles is high, but the limiting factor is affordability.
Tesla has not commented on the most recent price cuts. The company slashed prices on its cars across all markets in January, offering discounts of up to 20% in what many analysts saw as the start of a price war.
The electric vehicle market leader has been adjusting prices since with a pace and frequency that goes beyond what established automakers have attempted in an industry where a car’s base price is still referred to as a “sticker price.”
The Model S and Model X, which come in base all-wheel drive (AWD) and performance “Plaid” editions, represented about 4% of Tesla’s global deliveries in 2022, while the Model 3 sedan and Model Y crossover made up the rest.
Tesla’s website showed that it cut prices on both versions of its Model S by $5,000, with the basic version of Model S cut by 5% to $89,990, while the price of the performance, Plaid variant was cut by 4% to $109,990.
Prices of both the performance and basic variants of Model X cars were cut by $10,000, while the price of the basic, AWD version of the Model X was cut by 9% to $99,990, and its performance Plaid version was cut by 8% to $109,990.
Tesla has a new version of the Model 3 codenamed “Highland” scheduled to go into production later this year and a change to the Model Y codenamed “Juniper” for next year, according to Reuters.
»Tesla cut prices on 2 of it’s most expensive electric vehicles in the US«
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