Thursday, April 25, 2024
NewsPrices of the Tesla Model S and Model X lowered by up...

Prices of the Tesla Model S and Model X lowered by up to $10,000 US

 

  • Yet another price reduction for Tesla.

  • The Model S and Model X are now cheaper to purchase.

  • The Plaid trim are now priced the same in the Tesla lineup.


 

Tesla is already known for its flexibility in terms of prices of its four current models, and over the years, consumers have learned this the hard way. Some consumers have even had to deal with an inflated price just days before ordering their vehicle, a less than ideal situation.

But, this time around, Tesla has instead applied a substantial discount to its two most expensive – and oldest – vehicles in its lineup: the Model S sedan and the Model X SUV. Indeed, the entry price of the popular Model S sedan is now set at $89,990 in the US (down from $94,990), while the three-engine Plaid trim is now priced at $109,990 (down from $114,990). This is a $5,000 giveaway.

Tesla Model S Plaid
Tesla Model S Plaid | Photo: Tesla

In Canada, the discounts are even greater with the exchange rate, with the two-motor Model S now $122,990 ($136,990 not so long ago), while the Plaid version now starting at a base price of $149,990 (sold for $178,590 earlier this year).

The Model X SUV, meanwhile, receives an even greater price drop with a new entry price of $99,990, a $10,000 reduction in the U.S. Meanwhile, the three-engine Plaid trim benefits from the price reduction, dropping to $109,990 from $119,990 just a few days ago. Both Plaid vehicles are now priced the same.

In Canada, the base price of the Model X is $135,990 instead of the $157,990 charged at the beginning of the year. The Plaid trim, however, is priced at $149,990, the same as the Model S Plaid sedan. The Model X Plaid was selling for $185,590 not too long ago.

These price cuts come at a time when the auto industry is full of new electric options in the more luxurious niches. Mercedes-Benz, for example, is now offering the EQS sedan and EQS SUV, while Porsche’s Taycan is leading the charge for the other German brand. And it’s far from over, as several other car divisions are challenging Tesla’s hegemony in the electric car sector. BMW, for example, recently added the iX SUV and the i4 and i7 sedans. Brands like Genesis are also looking into investing in the EV sector with the G80 Electrified for example.

In short, with the threat of a recession and the supply crisis still raging, Tesla may be forced to lower the prices of its vehicles a bit more in the coming months. We’ll find out soon enough.

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