Tesla's US website shows that the Model S and Model X EVs are dropping their prices in the latest announcement.
The price cuts came after the company's CEO Elon Musk said that people should not be limited in their ability to purchase their desired Tesla vehicle.
Tesla Model S and Model X Price Drop
(Photo : Cam Bradford from Unsplash)
American automaker Tesla reportedly cut the prices for the US-made Model S and Model X sedans.
According to a report by TechCrunch on Monday, March 6, Tesla announced a new list for the pricing of its Model S and Model X cars in the US this year.
For the second time, the world's largest EV manufacturer reduced the prices of its SUV and sedan as part of attracting more buyers to purchase these models.
Certainly, Tesla does not want people to overlook these models given how competitive the EV market is nowadays. With new units produced every year, the old variants are often treated as the second option of the customers.
At the time, the Model S all-wheel drive was currently available at $89,990. A price drop of $5,000 or 5.2% might be enough for some buyers to opt for this model given how expensive it was at its original price of $94,990.
Meanwhile, the Model S Plaid is down to $109,990 from its former price of $114,990, a sharp drop of 4.3%.
On the other hand, interested buyers who want to purchase the Model X all-wheel drive should prepare $99,990 for this deal. It's quite a steal for struggling customers who can't buy this at $109,990 before.
If you want a more improved Model X SUV, you can go for its Plaid edition this time at a cheaper price of $109,990 from its original price of $119,990.
Elon Musk Wants to Focus on Price Drops to Attract Demands
For the past months, Elon Musk repeatedly mentioned that Tesla needs to consider dropping the prices of its EVs in a bid to drive demand and sales from the market.
Earlier this year, the company saw early success in its business as it recorded huge orders for buyers.
During Tesla's Investor Day last Wednesday, March 1, Musk highlighted the need to de-limit the paying ability of the people who want to own a Tesla car, per Reuters.
"The desire for people to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla," Musk said during the event.
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Tesla Opens Door For Other Companies to Explore Web3
When Tesla announced in 2021 that it would accept Bitcoin as payment for electric vehicles, people assumed that the company would fully embrace crypto payment as an alternative.
However, Tech Times reported that there was a time when the company stopped accepting $BTC as payment because of environmental concerns.
This year, Adidas said that Tesla served as an inspiration for it to embrace Web3, per Benzinga.
The apparel firm said that it was inspired by Tesla's move to accept Bitcoin as payment for EV purchases.
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