Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News
Whatsapp

Tesla Slashes Prices of Model S and Model X – Two Most Expensive EVs in the US

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Tesla Inc has reduced the prices of two of its most expensive electric vehicles, Model S and Model X, in the United States. This is Tesla’s fifth adjustment since the start of the year. It ranges from 4 percent on the performance version of the Model S to 90 percent on the Model X.

In recent months, Elon Musk has said that Tesla would focus on bringing prices down to push up demand. It has seen fruit with an increase in orders. At Tesla’s investor day last week, Musk said the desire for people to own a Tesla is extremely high. He acknowledged that the limiting factor is their ability to pay for a Tesla.

In January, the company cut prices on its EVs across all of its markets. Tesla offered discounts of up to 20 percent, igniting what market watchers called a price war.

It should be noted that the prices of Model S and Model X represented about 4 percent of the company’s global deliveries in 2022. The Model 3 sedan and Model Y crossover, Tesla’s two cheaper models, made up the rest. Moreover, the company’s portal highlighted that it had also slashed prices of both versions of its Model S by $5,000, and the basic model of Model S was reduced by 5 percent to $89,990; the Plaid variant was reduced by 4 percent to $109,990.

There was a $10,000 reduction in prices of both the performance and basic variants of Model X cars, the basic AWD version of the Model X was cut by 9 percent to $99,990 and the Plaid version saw an 8 percent cut to $109,990.

The price cut may boost Tesla shares which have surged 60 percent year to date. But it is still down about 30 percent over the past 12 months.

Join 10,000+ Fellow Readers

Get Techgenyz’s roundup delivered to your inbox curated with the most important for you that keeps you updated about the future tech, mobile, space, gaming, business and more.

Recomended

Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic