Tesla cuts Model S and X US prices by up to $10,000

Tesla has cut the prices of its high-end Model S and Model X electric cars by $5,000 (5.2 percent) and $10,000 (9.1 percent), respectively, according to changes on its website seen by TechCrunch.

It’s the second time this year that the company has cut prices, with the Model X dropping $21,000 from $120,990 at the start of the year to just $99,990 currently. The Model S, meanwhile, has dropped from $104,990 to $89,990 since January 1 — a steep $15,000 reduction.
Neither car qualifies for federal tax credits that expire later this month, as they only apply to SUVs priced under $80,000 and cars under $55,000. Still, they’re likely to push many fence-sitters over the edge. That’s consistent with what CEO Elon Musk said at Tesla Investor’s Day that “the desire for people to own a Tesla is extremely high… (but) the limiting factor is their ability to pay for a Tesla.”

Most Model 3 and Y vehicles qualify for the rebates thanks to Tesla’s January price cuts on these electric vehicles. (As a reminder, it’s a “non-refundable” tax credit, so you’ll only benefit if you have a federal tax liability of at least $7,500.) After mid-March, however, the rules will change, and many EVs that in currently qualifies, may be excluded.

All products recommended by Engadget are selected by our editors, independent of our parent company. Some of our stories include affiliate links. If you make a purchase through one of these links, we may earn an affiliate commission. All prices are correct at time of publication.

Leave a Reply

Scroll to Top
%d bloggers like this: