Monday, March 4, 2024

Tesla cuts Prices of Model S and Model X in the US to boost demand

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Tesla cuts prices for the Model S and Model X in the USA in an attempt to boost demand for these expensive cars with aggressive discounts.

The Tesla Model S currently starts at $89,990, i.e. down around 5% from the earlier price. The Model X now starts at $99,990, with a 9% price cut.

For the high-end Plaid models of the Model S and Model X, car purchasers can now anticipate paying $109,990. That is down 8% for the Model X Plaid and 4% for the Model S Plaid.

The recent price cut follows a series of consecutive discounts from Tesla in recent months. In January, Tesla decreased the prices of its new cars by approximately 20%, thereby making the vehicles more cost-effective and eligible for federal tax credits in the USA.

The speed and occurrence of price adjustments by Tesla go beyond what established automakers have tried in the industry.

This has ignited a price war among car manufacturers competing to reduce their prices in an attempt to attract more consumers and drive sales.

Musk has shifted the focus of Tesla to bringing costs down to increase demand for its products.

Musk said Tesla, “Tesla was seeing orders almost doubling the rate of production. These price changes really make a difference for the average consumer.”

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