Tesla launches cheaper versions of its Model S sedan and Model X SUV in the US
Move continues carmaker’s drive to cut costs and grow sales growth
15 August 2023 - 16:01
byRashmi Aich, Murali Anantharaman and Jamie Freed
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Tesla has introduced two cheaper versions of its Model S sedan and Model X SUV in the US with shorter driving ranges, the carmaker’s website showed on Monday, continuing its drive to cuts costs and grow sales.
The new S model is priced at $78,490 and the X “standard range” at $88,490, about 10% lower than the previous lowest-priced models. They are available for delivery in September and October 2023, the website said.
The lowest price is for cars with a “pearly white” exterior and an all-black interior, with other colours costing extra.
The new Model S has a driving range of up to 515km, lower than the basic and performance, plaid versions that offer up to 652km and 637km, respectively.
The new Model X SUV has range of up to 433km, well below its basic and performance, plaid versions that offer up to 560km and 536km, respectively.
Tesla did not respond at once to a request for comment on the new versions of the models.
The carmaker basd in Austin, Texas, slashed prices in the US, China and other markets since late 2022, and offered other incentives to reduce inventory, trying to shield itself against competition and economic uncertainty.
The company cut prices on Monday in China for its Model Y long-range and performance versions, sending its share price lower on concern about further pressure on profit margins.
The latest moves come as the carmaker prepares for first deliveries of its delayed Cybertruck and works to complete a plant in Mexico dedicated to a mass-market electric vehicle that will be the basis for a robotaxi.
Tesla’s S and X models are the company’s oldest offerings, introduced in 2012 and priced at a premium to Model 3 sedan and Model Y crossover vehicles.
The company delivered 19,225 Model X and S vehicles in the second quarter of 2023, up from 16,162 in 2022.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Tesla launches cheaper versions of its Model S sedan and Model X SUV in the US
Move continues carmaker’s drive to cut costs and grow sales growth
Tesla has introduced two cheaper versions of its Model S sedan and Model X SUV in the US with shorter driving ranges, the carmaker’s website showed on Monday, continuing its drive to cuts costs and grow sales.
The new S model is priced at $78,490 and the X “standard range” at $88,490, about 10% lower than the previous lowest-priced models. They are available for delivery in September and October 2023, the website said.
The lowest price is for cars with a “pearly white” exterior and an all-black interior, with other colours costing extra.
The new Model S has a driving range of up to 515km, lower than the basic and performance, plaid versions that offer up to 652km and 637km, respectively.
The new Model X SUV has range of up to 433km, well below its basic and performance, plaid versions that offer up to 560km and 536km, respectively.
Tesla did not respond at once to a request for comment on the new versions of the models.
The carmaker basd in Austin, Texas, slashed prices in the US, China and other markets since late 2022, and offered other incentives to reduce inventory, trying to shield itself against competition and economic uncertainty.
The company cut prices on Monday in China for its Model Y long-range and performance versions, sending its share price lower on concern about further pressure on profit margins.
The latest moves come as the carmaker prepares for first deliveries of its delayed Cybertruck and works to complete a plant in Mexico dedicated to a mass-market electric vehicle that will be the basis for a robotaxi.
Tesla’s S and X models are the company’s oldest offerings, introduced in 2012 and priced at a premium to Model 3 sedan and Model Y crossover vehicles.
The company delivered 19,225 Model X and S vehicles in the second quarter of 2023, up from 16,162 in 2022.
Reuters
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