For the second time this year, Tesla has cut down the prices of two of its most expensive models in the US, continuing to rage a price war in the EV market.
Prices for the Model S and Model X models are down between 4 and 9 percent respectively, according to the company website. This follows the earlier reduction in January that took off prices in the range of 6 to 20 percent.
The Tesla Model S now starts at $89,990, down 5 percent, while the Model X starts at $99,990, reduced by nearly 9 percent.
For the high-end ‘Plaid’ versions of the Model S and Model X, customers will now have to pay $109,990, down 4 percent for the Model S Plaid, and 8 percent for the Model X Plaid.
At the company’s investor day last week, CEO Elon Musk stated: “These price changes really make a difference for the average consumer. We found that even small changes in the price have a big effect on demand.”
Tesla shares were down nearly 2 percent to $193.8 at the close of trading on Monday.
Tesla’s price cuts in January led to a price war among carmakers. Ford slashed prices on its electric Mustang Mach-E crossover by up to 8 percent.
Current Tesla prices (in US):
- 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
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