Tesla just made a surprising move – they’ve slashed prices on several of their most popular models in the US.
This price cut comes after a bumpy week for Tesla. They let go of 10% of their workforce, said goodbye to a couple of high-ranking execs, and even tried (unsuccessfully) to get CEO Elon Musk’s giant pay package reinstated. On top of that, they put their plans for a more affordable $25,000 car on hold. All this follows news that Tesla fell short of delivery expectations for the quarter, which led to a jump in their car inventory.
Maybe they saw the delivery numbers coming? Last quarter, Tesla offered a “temporary” discount on their best-selling Model Y (which also happens to be the world’s best-selling electric vehicle!). They dropped the price by $1,000 for a short period, but warned buyers that prices would jump back up by $1,000 at the end of the quarter.
Well, those prices did go up on April 1st…but guess what? Less than three weeks later, they’ve been cut again! So, as of today, you’ll find lower prices on all Model Y trims, along with the Model S and Model.
The Model Y Rear-Wheel Drive is now $42,990, down from $44,990. The Long Range version is $47,990 (previously $49,990), and the high-performance Model Y Performance comes in at $51,490 (originally $53,490). These prices are actually the same as the temporary discount Tesla offered on the Model Y back in February.
Even Tesla’s pricier models, the Model S and Model X, are getting a price cut! It’s a $2,000 reduction on all trims. So, the Model S Long Range starts at $72,990 (previously $74,990), and the super-fast Model S Plaid comes in at $87,990 (down from $89,990).
The Model X also sees a decrease, with the Long Range starting at $77,990 (down from $79,990) and the Plaid variant priced at $92,990 (originally $94,990). This price cut actually makes the Model X the most affordable it’s ever been, potentially qualifying it for the federal tax credit – that could bring the upfront cost down to $70,490 (though keep in mind there are income limits for this credit).
It’s interesting to note that Tesla isn’t calling this a “temporary” discount like they did with the Model Y in February. This seems to be a more permanent price change, which is something Tesla has done a few times in the past couple of years.