Tesla (TSLA) is cutting the price of the Model S, now...

Tesla (TSLA) is cutting the price of the Model S, now...
Tesla (TSLA) is cutting the price of the Model S, now...
Tesla (TSLA) today cut the price of its flagship sedan, the Model S. The electric car now starts at just $ 71,990.

The Model S and Model X programs have been rejected for some time.

Tesla delivered 15,200 units of both vehicles in the last quarter – compared to 17,400 in the same period last year and 27,660 vehicles (14,470 models S and 13,190 models X) in the third quarter of 2018.

During this time, Tesla has mainly focused on the cheaper Model 3 and Model Y vehicle programs.

Nevertheless, the automaker regularly updates the Model S and Model X with new features and functions, most recently with a range increase to 402 miles for the Model S.

Now Tesla is also lowering the price of the Model S in an overnight update for its online design studio:

Tesla cut the price of both versions of the electric sedan currently available for delivery by $ 3,000:

  • Tesla Model S Long Range Plus: increased from $ 74,990 to now $ 71,990
  • Tesla Model S Performance: increased from $ 94,990 to now $ 91,990

The price of the electric sedan has not been so low since it launched the Model S with a smaller battery.

The Tesla Model S plaid, which was announced last month but will not be delivered until the end of next year, has not received a price change with the configurator update.

It’s still listed at $ 139,990.

The price update follows price cuts in the Tesla product range earlier this year that affected the Model 3, Model S and Model X.

Back in May, Tesla cut the price of the S Long Range Plus model by $ 5,000 to start at $ 74,990.

Tesla also recently cut the price on the Model Y, which only launched earlier this year:

Tesla currently estimates a delivery time of 4 to 8 weeks for both versions of the Model S in the US.

The price change seems to affect other markets as well.

For example, the Model S now starts in Canada at $ 101,990 (~ $ 77,800).

Tesla didn’t explain the reason for the price cut on the Model S today.

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