Tesla lowers prices on Model S and Model X variants in the US – website

March 5 (Reuters) – Tesla Inc ( TSLA.O ) has cut the prices of its Model S and Model X vehicles in the United States, its website showed, days after Chief Executive Elon Musk said recent price cuts on other models had stimulated demand.

The prices of Tesla’s Model S cars were cut by $5,000. The base version of the Model S would now cost $89,990, down from $94,990 previously, while its performance variant would cost $109,990, down from $114,990 previously.

Prices on both the performance and base variants of Model X cars were cut by $10,000, the electric car maker’s website showed. The base version would now cost $99,990, while its performance Plaid version would now cost $109,990.

Musk has repeatedly said in recent months that Tesla would focus on bringing prices down to drive demand and that it had seen success in capturing orders with global discounts introduced in January.

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“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.

Reporting by Mrinmay Dey and Shubham Kalia in Bengaluru; Editing by Kim Coghill and Bradley Perrett

Our standards: Thomson Reuters Trust Principles.

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