Buying a Tesla just got cheaper. Company offers another price drop on multiple models
as much as 20% off the starting price.
CEO Elon Musk noted last week that lowering prices has helped drive interest in the vehicles.
“We found that even small changes in the price have a big effect on demand,” Musk said during the company’s investor day.
A request for comment sent to Tesla’s email account for press bounced back with a message saying the inbox was full.
How much did Tesla prices drop?
Tesla’s Model S dropped 5% to $89,990, while its Model X dropped 9% to $99,990, according to the company’s website.
The price for the performance versions of both vehicles also fell, with the Model S Plaid dropping 4% to $109,990 and the Model X Plaid dropping 8% to $109,990.
Here are the current prices for Tesla’s vehicles:
- Model S: $89,990
- Model S Plaid: $109,990
- Model 3: $42,990
- Model 3 Performance: $53,990
- Model X: $99,990
- Model X Plaid: $109,990
- Model Y Long Range: $54,990
- Model Y Performance: $58,990
More affordable cars on the way?
Tesla said it’s working to cut the cost of its next generation of vehicles in half. The company has yet to unveil the upcoming vehicles and said details would come at a later date.
“Affordability is what matters,” Musk said during investor day. “As you make the car more affordable, we’ll have demand go crazy.”
Dig deeper:
- Tesla says it’s focused on improving affordability. What it means for future and current owners.
- Looking to buy a Tesla? Company cuts prices as much as 20% to boost sales.
- Elon Musk shares little about new models at Tesla investor day. Here’s what we did learn.
- Tesla, Ford, Toyota, Jeep among 1 million recalled vehicles:Check latest car recalls here.
- On the heels of the pandemic, borrowers with low credit are falling behind on car loans.
You can follow USA TODAY reporter Bailey Schulz on Twitter @bailey_schulz and subscribe to our free Daily Money newsletter here for personal finance tips and business news every Monday through Friday.