Tesla has taken the machete to prices of its Model S and Model X, just two months after it hacked prices across its lineup.
The Model S now starts at $91,380 and the Model X at $101,380, with the Model S price down $5,000 or about %4, and the Model X price down $10,000 or about 9%.
The price cuts also extend to the speedy Plaid versions. They are now both priced at $111,380. Previously, the Model S Plaid started at $116,630 and the Model X Plaid at $121,630.
All figures include a $1,390 destination charge.
2023 Tesla Model X – Courtesy of Tesla, Inc.
The latest price cuts come just days after CEO Elon Musk said during an investor presentation that previous price cuts were helping to boost demand.
Tesla is not alone in cutting prices of its EVs. Shortly after Tesla cut prices in January, Ford responded with price cuts for the Mustang Mach-E.
Tesla is by far the largest EV company, even prior to announcing its recent discounts. It reported approximately 1.3 million EV sales in 2022, which was up 40% on the previous year and well ahead of BYD in second place with approximately 900,000 sales.
It should be noted that even with the latest price cuts, the starting prices of the Model S and Model X are still higher than what they were just two years ago.