Wednesday, March 29, 2023

Elon Musk is lowering the cost of Tesla’s Model S and Model X to sell it in the US.

Tesla reduced the price of his two electric vehicles the most expensive in the United States of America, according to the company’s website, during the main executive days; Elon MuskHe said the recent price cuts on other models stoked demand.

The price cut, Tesla’s fifth adjustment since the start of the year, has fallen from 4% on the top-performing version of the Model S to 9% on the more expensive Model X.

Also: New car prices rose to 0.09% in February of this year

Musk has repeatedly said in recent months that Tesla will lower prices to boost demand and has been successful in generating orders since the global discount was introduced in January.

“People’s desire to own a Tesla is extremely high. The limiting factor is your ability to afford a Tesla,” Mosk said last week at the Tesla Investor Day.

In this file photo taken on September 29, 2015, Tesla Motors Chairman and CEO Elon Musk speaks at a Model X launch event in Fremont, California. (Photo by SUSAN BATES / AFP)

Tesla did not immediately respond to requests for comment regarding the latest price cut. The company slashed prices for its cars in all markets in January, offering discounts of up to 20% in what many analysts saw as the start of a price war by the EV market leader.

Matching prices has always been with the pace and frequency that automakers have attempted beyond the established industry, where the base price of a car is still known as the “barrier price” on a vehicle in the market.

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The Model S and Model X, which come in basic all-wheel drive (AWD) and “Plaid” performance editions, will make up about 4% of Tesla’s global deliveries in 2022. Its two cheapest models, the Model 3 and the Model Y crossover, make up the rest.

Tesla’s website shows that it has reduced the prices of both versions of its Model S by $5,000. The base version of the Model S is down 5% to $89,990, while the price of the high-performance Plaid variant is down 4% to $109,990.

5. Tesla Model S: 17 models sold with 416 horsepower and a cost of 62,000 dollars. (Photo: Flickr/Hans-Johnson)

Prices for the base and performance variants of the Model X cars start at $10,000, the electric vehicle maker’s website showed. The price of the base AWD version of the Model X is down 9% to $99,990, while the high-performance Plaid version is down 8% to $109,990.

Tesla has a new version of the Model 3 codenamed “Highland” going into production this year and a move to the Model Y codenamed “Juniper” for next year.

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Nation World News Desk
Nation World News Desk
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