Tesla Model S and Model X start at $89,990 following price cuts

The Tesla Model S

Tesla’s most expensive vehicles – the Model S and Model X – have received price cuts of 5% and 9% respectively to stoke demand, Reuters has reported. The decision from the company is pretty interesting given the massive price inflation we are seeing for goods around much of the world, nevertheless, Tesla thinks attracting customers at lower prices is the best choice right now.

In addition to the discounts mentioned above, the Plaid editions of the Model S and Model X have also received discounts. The Model S Plaid is down by 4% and the Model X Plaid has been reduced by 8% - prices start at $109,990. The price drops, which are already available through Tesla’s website, mark the fifth price adjustment this year.

Last week at Tesla’s Investor day, CEO Elon Musk said that many people wish to own Tesla vehicles but the prices a prohibitive so the company is looking for ways to make them more affordable. The company has not commented on the latest price drops so it’s unclear how permanent they’ll be or how the company has managed to cut prices.

The new prices apply in the United States but it’s not clear if pricing in other markets has changed at all. It’ll be interesting to hear from the company in future quarterly earnings calls whether it saw a pick up in the number of sales as a result of these price drops.

Source: Reuters

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