Tesla drops price on 75kWh Model S, upgrades for 60kWh batteries

Tesla drops price on 75kWh Model S, upgrades for 60kWh batteries

Tesla drops price on 75kWh Model S, upgrades for 60kWh batteries

Here's a closer look at the aggressive pricing move, and what it might mean for Tesla's business.

To this point, Elon Musk took to Twitter this past January and said Tesla models will undergo substantial revisions every 12 to 18 months.

American automobile major Tesla has just reduced the base price of their entry-level Model S announcing a discount of $7,500 to the 75kWh segment, which will now start at $69,500. The base 75 and 75D versions have seen price reductions of $5,000 and $3,000 for Model S and X respectively, while the 90D's price drops by $2,000 for both cars.

The official figures of the non-performance version Model S are 331.1 miles in the city, 337.2 miles on highway with a combined range of 335 miles. All in all, this is a welcome change as it makes Tesla's auto lineup a bit easier to make sense of. The Model X 100D will jump by $1,000 to $99,500, while the P100D version increases by $9,500 to $145,000.

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These changes seem to represent a streamlining of Tesla's offerings before the release of the Model 3.

"Periodically, we have adjusted pricing and available options to best reflect the value of our products and our customers' preferences", Tesla told Cars.com in an emailed statement.

Tesla will adjust the prices of their higher-end 100D and P100D models next week when their prices will slightly increase. We expect our total average selling price to remain nearly exactly the same. Second, while Tesla's overall vehicle sales have continued to climb, rising sales recently have primarily been driven by Tesla's newer Model X SUV; a lower price for Model S, therefore, could help Tesla either prevent a decline in Model S demand or possibly even catalyze higher demand for the sedan. Those price increases will come into effect next week. On the lower end of the price hikes is the Model S 100D, which is climbing from $95,000 to $97,500.

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