Tesla has once again slashed the prices of its all-electric Model S sedan and Model X SUV by $5,000 and $10,000, respectively, as the company prepares to take advantage of pent-up consumer demand for both electric vehicles.
The base dual-motor version of the Model S now starts at $91,380 (all pricing includes the $1,390 destination fee and excludes any tax credits); the new price is 14% less than how much it cost in January before Tesla decided to drastically reduce starting prices across its lineup. For the Model X, the automaker lowered the price to $101,380 for the base variant, just over 17% less than how much it cost in January.
In a curious move, Tesla has chosen to make pricing for the Plaid versions of both models identical; each has a starting price of $111,380, about 20% less than their prices at the beginning of the year. In the past, Tesla made the Model X Plaid more expensive than the Model S Plaid; the company has not revealed why it chose to have the two share the same price tag. Unfortunately, none of these models qualify for the $7,500 federal tax credit due to their high MSRPs.
Tesla increased the starting prices for both the Model S and the Model X when they were refreshed a couple years ago, as the automaker had trouble ramping up production of both vehicles to keep up with consumer demand; surging inflation and lingering COVID-19-related supply chain issues also forced the company to raise prices on other occasions.
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