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Tesla drastically drops prices of Model S, Model X in US for second time
Tesla Inc. slashed prices of its Model S sedan and Model X SUV in the US late Sunday night by $5,000 and $10,000 respectively as the company seeks to goose demand in the final month of the quarter.
The Model S all-wheel drive is now $89,990, down 5.2 percent from $94,990, according to the company’s website. The Model S Plaid is now $109,990, down 4.3 percent from $114,990.
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The Model X all-wheel drive is now $99,990, down 9.1 percent from $109,990. The Model X Plaid is now $109,990, down 8.3 percent from $119,990.
Tesla sells its cars direct to consumers and often tweaks its pricing. The latest moves come even though Tesla drastically cut prices in January in a broad bid to boost sales.
At the company’s March 1 investor day, held at Tesla’s factory in Austin, Texas, Chief Executive Officer Elon Musk and other leaders emphasized manufacturing efficiency and cost cutting.
“The desire for people to own a Tesla is extremely high, said Musk. “The limiting factor is their ability to pay for a Tesla.
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