Tesla cuts U.S. Model S and Model X prices between 4% and 9%
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[March 06, 2023] (Reuters)
-Tesla Inc has cut prices on its two most expensive electric vehicles in
the United States, according to the company's website, days after Chief
Executive Elon Musk said recent price cuts on other models had stoked
demand.
The price cuts, Tesla's fifth adjustment since the start of the year,
ranged from 4% on the performance version of the Model S to 9% on the
more expensive Model X.
Musk has said repeatedly in recent months that Tesla would focus on
bringing prices down to drive demand and that it had seen success in
sparking orders with global discounts introduced in January.
"The desire for people to own a Tesla is extremely high. The limiting
factor is their ability to pay for a Tesla," Musk said last week at
Tesla's investor day.
Tesla did not immediately respond to a request for comment on the most
recent price cuts.
Tesla slashed prices on its cars across all of its markets in January,
offering discounts of up to 20% in what many analysts saw as the start
of a price war by the electric vehicle market leader.
It has been adjusting prices since with a pace and frequency that goes
beyond what established automaker's have attempted in an industry where
a car's base price is still referred to as a "sticker price" on a
vehicle in inventory.
The Model S and Model X, which come in base all-wheel drive (AWD) and
performance "Plaid" editions, represented about 4% of Tesla's global
deliveries in 2022. Its two cheaper models, the Model 3 sedan and Model
Y crossover, made up the rest.
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A Tesla Model S charges at a Tesla
supercharger station in Cabazon, California, U.S. May 18, 2016.
REUTERS/Sam Mircovich/File Photo
Tesla's website showed it had cut prices on both versions of its
Model S by $5,000. The basic version of Model S was cut by 5% to
$89,990, while the price of the performance, Plaid variant was cut
by 4% to $109,990.
Prices of both the performance and basic variants of Model X cars
were cut by $10,000, the electric vehicle maker's website showed.
The price of the basic, AWD version of the Model X was cut by 9% to
$99,990 while its performance Plaid version was cut by 8% to
$109,990.
Tesla has a new version of the Model 3 codenamed "Highland"
scheduled to go into production later this year and a change to the
Model Y codenamed "Juniper" for next year, Reuters has reported.
(Reporting by Mrinmay Dey and Shubham Kalia in Bengaluru; writing by
Kevin Krolicki, Editing by Kim Coghill, Bradley Perrett and Sonali
Paul)
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