Tesla Targets Lower-Price Buyers With Model S 60
CARS.COM — For everyone out there who’s been asking when you’d be able to get your hands on a Tesla Model S for less than $70,000, CEO Elon Musk has heard you. The reigning range champ among luxury electric cars today announced the new entry-level Model S 60 sedan, which will provide Model S-worthy range and Model S mojo for less than Model S money. The new model replaces the previous base Model S 70 and 70D.
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“… We’ve heard from a number of people who would like to buy a Model S, but can more easily afford it only at a lower price point,” the automaker said in a statement. “To respond to these requests … we’re introducing two new variants of Model S — Model 60 and 60D, offering a compelling feature set and a great value at a new low price.”
Before you get too charged up, we’re still talking luxury-level prices, here. The Model 60 starts around $66,000 and the all-wheel-drive 60D at $71,000. That’s compared with the previous rear-wheel-drive base 2016 Model S 70, which started at $71,200, and all-wheel-drive 70D, which started at $76,200 (both prices include a $1,200 destination charge). Current Model S sedans have an all-electric range of 200 to 270 miles depending on the trim level.
The Model S 60 boasts more than 200 miles of range, along with a 130-mph top speed and 5.5-second zero-to-60-mph sprint. Tesla noted that at an average annual fuel savings of as much as $1,500 and with available tax incentives, the effective cost of Model S ownership drops to around $50,000. The Model S 60 can be ordered immediately at the new low price for a July delivery.
If that’s still not enough of a price break but you can’t live without the Tesla cachet, you can wait until late 2017, when the Model 3 is expected to reach the market with a starting price around $35,000 and a 215-mile electric range. Or, if you just can’t wait that long and aren’t loyal to Team Tesla, the 2017 Chevrolet Bolt EV hatchback will be available in the summer with a 200-mile range and for around the same price as the Model 3.
The new reduced-price Model S comes with Tesla’s four-year/50,000-mile bumper-to-bumper warranty as well as its eight-year/infinite-mile battery and drive unit warranty. Owners also will be eligible for free over-the-air software updates, which Tesla said will “add functionality and continue to improve the driving experience.” Model S 60 and 60D owners also will have access to the automaker’s Supercharger network, and will be able to upgrade their vehicles later to a larger-capacity 75 kilowatt-hour battery with a software update for $9,000, according to Tesla’s site.
Tesla’s previous offering of a reduced-price Model S, also called the 60, started around $69,900 and was sold from 2012 to 2015. Tesla says the new version is improved, with the updated design and safety features such as automatic braking.
