Tesla cuts Models S and X prices for the second time in eight weeks
Tesla is cutting prices for the second time in less than eight weeks. Reuters noticed that the automaker has dropped the prices of its more expensive, aging Model S sedan and Model X SUV yet again.
While these cars were revolutionary at launch in 2012 and 2015, they now face stiff competition from much newer vehicles from the likes of Rivian, Lucid, Mercedes, Porsche, and BMW. As a result, Model S and Model X sales combined represented only 5 percent of Tesla's global sales in 2022.
In 2022, a dual-motor all-wheel-drive Tesla Model S went for $104,990. In January, Tesla chopped about 10 percent off the price, dropping it to $94,990. Today, it's another $5,000 cheaper at $89,990.
For those who want to go really fast, the Model S Plaid, which uses three motors for a sub-2-second 0-60 mph time and a 200 mph top speed, is now $109,990, $5,000 less than last week and $26,000 less than you'd have paid in 2022.
The Model X SUV sees even bigger discounts. After heavy price drops in January, Tesla has now cut an extra $10,000 from Model X prices. That means the all-wheel-drive dual-motor version now starts at $99,990, with the triple-motor Plaid Model X starting at $109,990.
How long those prices will stay is anyone's guess. Within less than a month of enacting its January price cuts, Tesla had already increased the prices of the Model Y crossover again.