Along with its announcement of a new base Model 3 Standard Range last week, Tesla also announced that it would cut prices across the board, including on its more expensive Model S and Model X vehicles.
In addition to introducing new standard range Model S and X vehicles in late January, when it also dropped prices on the luxury cars by $1,000, Tesla cut prices on the Model S and X by at least $6,000 last week.
- The base, Standard Range Model S, with 270 miles of range, now sells for $80,200, down from $86,200 last month (after counting the mandatory destination and documentation fee of $1,200.)
- The Long Range Model S, with 335 miles of range, dropped $10,000, from $94,200 to $84,200.
- The Performance model, with a 0-60 mph time of 3.0 seconds and a 315 mile range, dropped $13,000, from $113,200 to $100,200 with delivery.
With January's changes, Tesla also separated Ludicrous Mode, with its 2.4-second acceleration from 0-60, into a stand-alone option. It now sells for $15,000, down $5,000 for the option.
Model X prices dropped even more. There is no Short Range Model X.
- The base Long Range Model X sells for $89,200, down $8,000 from before. With the same battery as the Long Range Model S in a bigger SUV, it delivers 295 miles of range.
- The Model X Performance sells for $105,200, down $13,000. Ludicrous Mode adds the same $15,000 as it does on the Model S.
Autopilot, which adds adaptive cruise control and active lane control, adds $3,000 to both models, and Tesla has reintroduced the prepayment option for Full Self Driving mode, which CEO Elon Musk does not expect to activate until the end of the year. It adds $5,000 and requires Autopilot.
The company has cut prices to stimulate demand after the available federal Plug-In Vehicle Tax Credit on its cars dropped by half in January. it is scheduled to drop again in July and to be eliminated in 2020. Tesla was the first automaker in the U.S. to reach its electric-vehicle tax credit cap last July after it sold 200,000 electric cars.