Summary:

• Tesla has reduced prices on its latest car models in the US to increase demand.
• The all-wheel drive versions of the Model S saw a $5,000 price reduction to $89,990, while the Model X all-wheel drive had a $10,000 discount to $99,990.
• This is not the first time Tesla has lowered prices on its EVs, and CEO Elon Musk stated that he is making plans to reduce production costs in the future.

Tesla is attempting to boost demand for its latest car brands, Model S and Model X, in the United States by slashing prices.

On the company’s site, the Model S all-wheel drive saw a price reduction of $5,000 to $89,990 and the Model S Plaid was cut by the same amount and now sells for $109,990.

Meanwhile, the Model X all-wheel drive was slashed by $10,000 to $99,990 and the Plaid version costs $109,990 after the same amount was deducted from its former price.

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This is not the first time that Tesla has cut down prices of its EVs as it did so in January and has done so on several other occasions in the past. It is in line with what the company’s CEO said at a recent meeting with investors.

“The desire for people to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla,” the tech boss had said. He also added that he was making plans to reduce the costs of producing the vehicles in the future.

Besides the cost cut, the company’s Models 3 and Y cars are still on the $7,500 federal tax incentive in the US for the remainder of March 2023.

Again, Tesla is opening itself up to discontented customers making trouble after purchasing their cars at a higher price less than a few weeks or months before the price slashes. It happened many times already and while they cannot do serious damage to the company’s reputation, it could affect the enthusiasm to buy the car anytime soon.

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