Tesla has reduced the prices of its Model S sedan and Model X SUV in the US, according to the company’s website. This is the second time this year that Tesla has cut prices, and it could be an attempt to boost sales before the end of the quarter.
The all-wheel-drive Model S is now available for $89,990, which is 5.2% less or about $5,000 from $94,990. The Model S Plaid is now $109,990, down 4.3% from $114,990.
The all-wheel-drive Model X is $99,990, down 9.1%, or $10,000 from $109,990. The Plaid is now $109,990, down 8.3% from $119,990.
The latest price cut comes after Tesla slashed prices in January, making it at least the fifth time the automaker has cut the cost of its vehicles in recent months. Last week at Tesla’s Investor Day, held at the company’s Austin factory, CEO Elon Musk and other leaders discussed the importance of lean manufacturing and cost reduction.
“People’s desire to own a Tesla is extremely high,” Musk said. “The limiting factor is your ability to afford a Tesla.”
Tesla Models 3 and Y are still available for the $7,500 US federal tax incentive for the remainder of this month.
