Tesla Slashes Prices Again, Dominates Electric Car Market
In an attempt to dominate the electric car market, Tesla has slashed the prices of two of its very popular models. This development occurred right after Tesla CEO Elon Musk announced that the previous price cuts led to an increase in sales.
One of Tesla’s most sought-after models, the Model S Performance, has seen a price cut of 4%, while the price of the Model X Performance has been cut by 9%. This is a major price cut on Tesla’s behalf, especially after the company had already introduced a price cut recently before.
Tesla launched a price war in January, significantly reducing pricing by up to 20% across the board. Model S and Model X AWD, as well as Plaid models, will account for 4% of Tesla’s global deliveries in 2022. The remainder came from the less expensive Model 3 sedan and Model Y crossover variants.
Tesla has openly shared that these price cuts, as well as the discounts introduced in January, are all attempts to improve Tesla sales around the world. Elon Musk personally told his investors,
“The desire for people to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla.”
Elon Musk is aiming to improve overall sales by lowering Tesla prices of top variants as well. The base Model S price has been reduced by 5% to $89,990, while the Performance variant has been scaled back by 4% to $109,990. The EV manufacturer’s website displayed $10,000 price cuts for Model X performance and basic models. The base AWD Model X has been reduced by 9% to $99,990, while the Performance model has been reduced by 8% to $109,990.
Tesla is also planning on adding a “Highland” variant to their lineup with a “Highland Model 3,” which will be released later this year. On top of that, a “Juniper” Model Y is set to be launched next year, according to Reuters, to continue expanding its lineup and increase demand.
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