Tesla recently cut pricing for the Model S, Model X, and Model 3. The Model S and Model X in particular are now $5,000 cheaper. Model Y pricing was unchanged.
In something of an abrupt and unexpected move, Tesla today lowered the price for nearly every model in its vehicular lineup. While the price for a new Model 3 went down by $2,000, the savings are more substantial for the Model S and Model X which can now be purchased for $5,000 cheaper than before. You can now pick up a brand new Model S, for example, for about $75,000 as opposed to $80,000. Model Y pricing, meanwhile, stayed the same.
The price reductions above are only applicable for purchases in North America, but the company is expected to implement similar price cuts in China in the near future.
The impetus behind Tesla’s new price cuts, not surprisingly, are lagging sales. With the coronavirus impacting the world economy on the whole, and with investors always paying close attention to Tesla’s quarterly delivery figures, Tesla is simply trying to boost demand in an otherwise challenging economic environment.
