According to the company’s website, Tesla has slashed the price of the Model X by 9.1 percent and Model S by 5.3 percent. The price adjustment is done a second time in the year 2023 for Tesla electric cars.
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Tesla Model X and Model S are the two most expensive offerings by the company. The price cut happened days after Chief Executive Officer, Elon Musk’s revelation that the previous price cut increased the demand for their electric cars.
The price of the Tesla Model X before January 2023 was $120,990, which was reduced to $109,990 with the earlier price reduction.
The price of the Tesla Model S before January 2023 was $104,990, which was reduced to $94,990 with the earlier price reduction.
The price of the Tesla Model X is reduced by 9.1 percent, and because of that the starting price of the Model X is $99,990 in the United States.
The price of the Tesla Model S is reduced by 5.3 percent, and because of that the starting price of the Model S is currently $89,990 in the United States.
| Tesla | Price Now | Price After January 2023 | Price Before January 2023 |
|---|---|---|---|
| Model X | $99,990 | $109,990 | $120,990 |
| Model S | $89,990 | $94,990 | $104,990 |
The decision to the price cut is aligned with Tesla’s vision to make the electric car more and more affordable for customers.
During the last Tesla Inventor day, CEO Elon Musk shared that, people have a very high desire to be the owner of a Tesla electric car, but the limiting factor for that desire is the ability to pay a large sum of money for a Tesla.
Elon Musk also revealed that their decision to price cut in January month of 2023, has resulted in increasing the demand for Tesla electric cars.
Many analysts also consider this price cut of Tesla as the Price War in the electric vehicle market.
Tesla’s price adjustment is very unique in the automotive world. Usually, the price of the automobile is only adjusted with the new model launched by the manufacturer and suggested to the retailer.
Tesla’s decision to make the electric car more affordable is surely going to change the decision of the customers. People will prefer to purchase the Tesla, instead of another electrically-powered or fossil fuel-powered car. It will change the dynamics of the electric car market, where people will be seeing electric cars as more affordable mobility solutions, compared to the current situation.
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