Tesla goes cheaper in US with Model S, X versions launched

By Al Mayadeen English
Source: Agencies
15 Aug 2023 09:25

The automaker is bringing back "Standard Range" versions with shorter ranges and cheaper prices.

A sign bearing Tesla's logo displayed outside the company's store in Cherry Creek Mall in Denver (AP)

According to the automaker's website on Monday, Tesla (TSLA.O) has launched two less expensive, shorter-range variants of its Model S car and Model X SUV in the United States, continuing its focus on lowering costs to emphasize sales growth.

The new S and X "standard range" versions are ready for delivery between September and October 2023. They are priced at $78,490 and $88,490, respectively - around 10% less than the previous lowest-cost models. These prices apply to cars with a "pearly white" exterior and an all-black interior; other colors are more expensive.

The new Model S' maximum driving range is 320 miles (515 kilometers), which is less than the maximum driving ranges of the basic and performance models, which are 405 miles and 396 miles, respectively.

The new Model X SUV's range, which can go up to 269 miles, is significantly less than that of its basic and performance models, which can go up to 348 miles and 333 miles, respectively.

A request for comment on the updated models was not immediately answered by Tesla.

Since late last year, the Austin, Texas-based automaker has lowered prices in the US, China, and other regions and provided various incentives to reduce inventory in an effort to fend off rivals and uncertain economic conditions.

The business lowered prices for its Model Y long-range and performance versions in China on Monday, sending shares lower on worries that its profit margins will come under more pressure.

The most recent actions are being made as the automaker prepares to deploy its delayed Cybertruck for the first time and works to finish a facility in Mexico dedicated to a mass-market EV that will serve as the foundation for a robotaxi.

Tesla's S and X models, which debuted in 2012 and are more expensive than the Model 3 sedan and Model Y crossover vehicles, are the brand's earliest offerings.

In comparison to the same period last year, the business delivered 19,225 Model X and S vehicles.