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Tesla slashes prices for Model S and Model Y in US

According to the company’s website, Tesla has reduced the cost of its Model S car and Model X SUV in the United States. This is Tesla’s second price cut this year, and it might be a last-ditch effort to increase sales before the end of the quarter.

The Model S all-wheel drive is now available for $89,990, a $5,200 decrease from $94,990. The Model S Plaid is currently $109,990, a 4.3% reduction from $114,990.

The Model X all-wheel drive is now $99,990, a 9.1% discount or $10,000 down from $109,990. The Plaid is now $109,990, an 8.3% decrease from $119,990.

The new price decrease comes after Tesla lowered its pricing dramatically in January, marking at least the seventh time the company has reduced the cost of its cars in recent months. CEO Elon Musk and other officials addressed the necessity of efficient production and cost savings during Tesla’s investor day last week, held at the company’s Austin facility.

“The urge to buy a Tesla is quite strong,” Musk stated. “Their capacity to pay for a Tesla is the limiting element.”

The Tesla Models 3 and Y are still eligible for the $7,500 federal tax credit in the United States for the remainder of the month.

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