Tesla Model S, X receive second price cut this year
What's the story
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).
Context
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.
Figures
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.
Information
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.
Car #1
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.
Car #2
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.