Tesla slashes prices of Model S, Model X in US for second time this year
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The latest moves come even though Tesla drastically cut prices in January in a broad bid to boost sales.
PHOTO: REUTERS
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Oakland, California – Tesla slashed prices of its Model S sedan and Model X sport utility vehicle (SUV) in the United States late on Sunday night by US$5,000 (S$6,720) and US$10,000 respectively as the company seeks to goose demand in the final month of the quarter.
The Model S all-wheel drive is now US$89,990, down 5.2 per cent from US$94,990, according to the company’s website.
The Model S Plaid is now US$109,990, down 4.3 per cent from US$114,990.
The Model X all-wheel drive is now US$99,990, down 9.1 per cent from US$109,990. The Model X Plaid is now US$109,990, down 8.3 per cent from US$119,990.
Tesla sells its cars direct to consumers and often tweaks its pricing.
The latest moves come even though Tesla drastically cut prices in January in a broad bid to boost sales.
At the company’s March 1 investor day, held at Tesla’s factory in Austin, Texas, chief executive Elon Musk and other leaders emphasised manufacturing efficiency and cost-cutting.
“The desire for people to own a Tesla is extremely high,” said Mr Musk.
“The limiting factor is their ability to pay for a Tesla.” BLOOMBERG
