Tesla has announced a reduction in its Model S sedan and Model X SUV prices in the United States. The automaker has cut 2nd-time prices this year, which is presumed to be an effort, and it is assumed that it is an endeavor to increase sales before the quarter’s end.
The all-wheel-drive Model S can now be purchased for $89,990.00, down by 5.2% or around $5,000 from its original price of $94,990. The Model S Plaid is now priced at $109,990, a reduction of 4.3% from its previous price of $114,990.
Similarly, the all-wheel-drive Model X is now available for $99,990, a reduction of 9.1% or $10,000 from its original price of $109,990. The Plaid is now available for $109,990, a decrease of 8.3% from its previous price of $119,990.
This latest price reduction follows Tesla’s drastic price cuts in January, making it at least the fifth time the company has lowered the cost of its vehicles in recent months.
Elon Musk, the CEO of Tesla, and other executives recently had an investor day addressing the value of effective production and cost-cutting. He noted that there is a significant demand for Tesla vehicles. Yet, a constraining aspect is their capacity to pay for it.
It is worth noting that Tesla’s Models 3 and Y are still eligible for the US $7,500 federal tax incentive for the remainder of this month.
