Following the latest cuts, a new Tesla Model S Plaid and Model X Plaid — the performance versions for both vehicles — now share the same $109,990 price. Meanwhile, the base Tesla Model S AWD is now $89,990, down from $94,990. When Tesla first unveiled its redesign for the vehicle in January 2021, Model S prices started at $79,990.
A before and after comparison of Tesla Model X and Model S vehicle prices in the US.
This is the second time this year that Tesla has cut its prices significantly, after cutting the cost of its Model Y, Model X and Model S vehicles by as much as 20 percent in January. Following those initial cuts, Musk has since announced plans to cut production costs for future EVs in half during Tesla’s Investor Day on March 1. “People’s desire to own a Tesla is extremely high,” Musk said. “The limiting factor is their ability to pay for a Tesla.”
The EV maker has regularly messed with its vehicle prices in recent years, having previously made increases across its range several times between 2021 and 2022. However, the recent price cuts have not been particularly welcomed by existing buyers. Protests were staged in China earlier this year following discounts of up to 17 percent in the region, with Tesla customers who had bought at the higher price demanding refunds. Some Tesla owners in the US were also dissatisfied with similar price cuts, with existing customers raising concerns regarding the sudden loss of value of the vehicle.
