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Tesla Reduces Prices Of Model S And Model X In The US By 4% To 9%

Tesla Reduces Prices Of Model S And Model X In The US By 4% To 9%
Tesla Inc has reduced prices on the two most expensive electric vehicles in the United States, according to information from the website of the company. This comes just a few days since the company's Chief Executive Elon Musk said that the recent price discounts on other models had helped rise demand.
Tesla's fifth price cut since the beginning of the year ranged from 4% on the performance version of the Model S to 9% on the more expensive Model X.
Musk has stated repeatedly in recent months that Tesla will focus on lowering prices to drive demand, and that the global discounts introduced in January were successful in generating orders.
"The desire for people to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla," Musk said last week at Tesla's investor day.
There were no comments on the issue of the recent price cuts from Tesla. In January, Tesla slashed prices on all of its vehicles across all of its markets, offering discounts of up to 20% in what many analysts saw as the start of the electric vehicle market leader's price war.
Since then, it has been adjusting prices at a rate and frequency that exceeds what established automakers have attempted in an industry where a car's base price is still referred to as a "sticker price" on an inventory vehicle.
The Model S and Model X, which are available in all-wheel drive (AWD) and performance "Plaid" editions, will account for approximately 4% of Tesla's global deliveries in 2022.
The rest was made up of its two less expensive models, the Model 3 sedan and Model Y crossover.
Tesla's website indicated that it had reduced the price of both Model S models by $5,000. The basic Model S was reduced by 5% to $89,990, while the performance, Plaid variant was reduced by 4% to $109,990.
The prices of both the performance and base Model X cars have been reduced by $10,000, according to the electric vehicle manufacturer's website. The basic AWD version of the Model X has been reduced by 9% to $99,990, while the performance Plaid version has been reduced by 8% to $109,990.
According to Reuters, Tesla is planning a new version of the Model 3 codenamed "Highland" for later this year, as well as a change to the Model Y codenamed "Juniper" for next year.

Christopher J. Mitchell

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