Tesla Slashes Prices Of Its Two Most Expensive Cars In US

Days after Chief Executive Elon Musk claimed that previous price reductions on other models had fueled demand, Tesla Inc. has reportedly lowered pricing on its two most costly electric vehicles in the United States, according to the company's website. The price reductions, which marked Tesla's sixth since the year's beginning, varied from 4% on the Model S's performance model to 9% on the more costly Model X. Elon Musk has stated time and time again in recent months that Tesla will prioritise lowering costs to increase demand and that the company has seen success in generating orders with the introduction of worldwide reductions in January. Around 4% of Tesla's worldwide deliveries were of the Model S and Model X, which are available in performance "Plaid" and base all-wheel drive (AWD) models. The rest was made up of its two less expensive vehicles, the Model 3 sedan and the Model Y crossover. According to Tesla's website, both variants of the Model S now cost $5,000 less. The cost of the base Model S was reduced by 5% to $89,990, while the cost of the Plaid, the performance model, was down by 4% to $109,990. Model X prices have been reduced by $10,000 for both the performance and entry-level models, according to the website of the electric car manufacturer. The cost of the Model X's entry-level AWD model was reduced by 9% to $99,990, while the performance-focused Plaid model's price was down by 8% to $109,990.Tesla has a new model of the Model 3 code-named "Highland" planned for release later this year, as well as an update to the Model Y for 2019.