Tesla Model S, X receive second price cut this year
Elon Musk-owned EV giant Tesla has reduced the prices of the Model S and Model X cars in the US. To note, this is the second price reduction for the vehicles in the country, since January this year. Now, the Model S starts at $89,990 (around Rs. 73.6 lakh), while the Model X carries a starting price tag of $99,990 (roughly Rs. 81.8 lakh).
Why does this story matter?
- Tesla is looking for ways to cut costs and cement its position as the leader in the global EV segment.
- Its Model S and Model X cars received a substantial price cut seven weeks ago. However, it was not enough to boost demand.
- The company hopes that slashing prices again will raise their demand and qualify them for tax credits from the US government.
Prices are down by 9.1% compared to January
The prices of Model S and X were also reduced in January. At that time, the Model S started at $94,990 (around Rs. 77.8 lakh), while the Model X began at $109,990 (roughly Rs. 90 lakh). Compared to January, the starting prices of the two cars this month are down by 5.3% and 9.1%, respectively. Other EV makers may also follow Tesla's path.
Model S and X accounted for 5% sales in 2022
The Model S and X are Tesla's costliest vehicles. In 2022, the two cars accounted for just over 5% of the brand's deliveries. The company handed over 66,705 Model S and X vehicles to buyers last year.
Tesla Model S is a stylish sedan
Tesla Model S has a sloping roofline, a sculpted bonnet, sweptback LED headlights with DRLs, stylish silver-colored wheels, and wrap-around taillamps. Inside, the sedan has five seats, a 22-speaker sound system, a yoke-style steering wheel, a 17.0-inch touchscreen infotainment system, and an Autopilot facility. It is backed by a dual/tri-motor electric powertrain and promises a range of up to 652km per charge.
Tesla Model X is an SUV with a 560km range
Tesla Model X offers a lengthy hood, a sloping glass roof, eye-shaped LED headlamps, wrap-around taillamps connected by a black strip, and sporty wheels. The SUV can seat up to seven passengers and gets a wireless fast-charger, Autopilot facility, air filters, and a 17.0-inch touchscreen infotainment console. It draws power from a dual/tri-motor electric powertrain and delivers up to 560km of range.
