Tesla cut prices on Model S and Model X

Electric vehicle maker Tesla has announced a significant price reduction for its Model S and Model X vehicles in the United States. The move is aimed at making these luxury EVs more affordable and accessible to a wider range of customers.

According to Tesla’s website, the price of the Model S Long Range Plus has been reduced by 4%, from $79,990 to $76,190, while the Model S Performance has seen a 3% cut, from $99,990 to $96,190. The Model X Long Range Plus now starts at $86,190, down 5% from $90,990, while the Model X Performance has been reduced by 9%, from $119,990 to $108,190.

Tesla CEO Elon Musk took to Twitter to announce the price cuts, saying “The gauntlet has been thrown down!” and “The only thing left is for other car makers to join the EV revolution.”

The price reduction comes after Tesla reported record sales in the fourth quarter of 2022, with deliveries of its Model S and Model X increasing by 40% year-over-year. The company has been facing increased competition from other automakers entering the EV market, and analysts say the price cuts could be a strategic move to maintain Tesla’s position as a market leader.

Tesla has also been expanding its production capabilities, with new factories in Texas and Germany expected to begin producing vehicles later this year. The company is also planning to launch the Cybertruck pickup and the updated Roadster sports car in the coming years.

The price cuts are expected to be well-received by Tesla fans and prospective customers, as the company continues to lead the way in the electric vehicle industry.