Over the weekend, Tesla again reduced the price of the Model S sedan and Model X SUV.
The company slashed the price of the Model S by $10,000 in January, as part of the extensive discounts on the entire squad; now it’s cut $5,000 more. With this, an even larger reduction applies to the Model X price; they are now $10,000 lower than last week.
As of Monday, March 6, the Model S starts at $91,380, including a mandatory destination fee of $1,390. It’s the Dual Engine version that offers a 405-mile EPA range and hits 0-60 mph in 3.1 seconds. The Dual Engine version of the Model X starts at $101,380 in five-passenger form, while six- and seven-passenger versions are available for an additional fee.
These prices, while much lower than last year, are still much higher than at the end of 2020, when the company Discount on Model WILL in an apparent attempt to match Lucid Air. Both models have increased in price since then; the Air starting at $94,400 in its dual-engine Pure version, rated at 410 miles.
2023 Tesla Model X – Courtesy of Tesla, Inc.
Also of note: Both the top-performing Tesla Model S Plaid and Model X Plaid now start at about the same price—$111,380. Tesla claims that the Model S Plaid, with a range of 396 miles, remains the fastest accelerating car produced today (100 km/h time of 1.99 seconds and quarter mile time). 9.23 seconds), while the Model X Plaid earned a 333-mile range rating and is claimed to be the fastest accelerating SUV produced today. Both Plaid models feature a three-engine, 1,020-horsepower propulsion system, along with upgraded brake pads and a carbon fiber spoiler.
Tesla continues to offer a $15,000 Full Self-Driving package—now labeled Fully Autonomous—on both models. Until now, that has included a fully Self-Driving Beta system that allows Autosteer on City Streets, but last month the company issued a recall of that system after federal regulators say it poses “an unreasonable risk to the safety of a motor vehicle.”
Tesla has yet to provide the necessary firmware update for the vehicles and is said to have paused the new installation of the Full Self-Driving beta software prior to the update.
2023 Tesla Model X – Courtesy of Tesla, Inc.
This move could further devastate the used Tesla market—or make used Teslas more affordable, depending on how you look at it. Amid signs that the Tesla demand bubble has burst, Used Tesla prices have dropped in the second half of 2022 before the January sale and before that sale, Tesla offered Discounts on Model 3 and Model Y up to $7,500.
At Tesla’s Investment Day last week, Tesla CEO Elon Musk dismissed the possibility that the market could become tighter, quipping that demand is “indistinguishable from infinity.” .
Still, Tesla might want to see this, the price drop demonstrates how competitive — and crowded — the premium electric vehicle sector has become, with entries from Rivian, Lucid, Mercedes-Benz , BMW, Cadillac and others are grabbing market share of electric vehicles.
