The electric car company, Tesla has cut the prices of its Model S sedan and Model X SUV in the U.S. This is according to information on the company’s website.
The price of the Model S all-wheel drive has dropped to $89,990 from $94,990, a 5.2% decrease or roughly $5,000. The Model S Plaid is now available for $109,990, a 4.3% decrease from $114,990.
The price of the Model X all-wheel drive has decreased by $10,000, to $99,990. The Plaid has decreased from $119,990 to $109,990.
The most recent price reduction comes after Tesla dramatically reduced prices in January, making it at least the fifth occasion in recent months that the company has decreased the price of its automobiles.
It’s possible that this move is an attempt to increase sales before the end of the current quarter, as this is the second time the company is cutting the prices of their vehicles.
Elon Musk, the CEO of Tesla, and other executives spoke on the value of effective manufacturing and cost-cutting last week during the company’s investor day at its Austin factory.
People have a strong desire to purchase a Tesla, according to Musk. “Their ability to afford a Tesla is the limiting factor.”
For the remainder of this month, the $7,500 federal tax credit for Tesla Models 3 and Y is still available in the United States.