Tesla Inc cut prices of its Model S sedan and Model X SUV in the US late Sunday by $5,000 and $10,000, respectively, as the company seeks to boost demand in the final month of the quarter.
According to the company’s website, the Model S all-wheel drive is now $89,990, down 5.2% from $94,990. The Model S Plaid is now $109,990, down 4.3% from $114,990.
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Model X all-wheel drive is now $99,990, down 9.1% from $109,990. The Model X Plaid is now $109,990, down 8.3% from $119,990.
Tesla sells its cars directly to consumers and changes its prices frequently. The latest move comes even as Tesla drastically cut prices in January in a sweeping bid to boost sales.
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At the company’s March 1 investor day held at Tesla’s factory in Austin, Texas, Chief Executive Officer Elon Musk and other leaders emphasized manufacturing efficiency and cost-cutting.
“There’s a huge desire for people to own a Tesla,” Musk said. “The limiting factor is their ability to pay for Tesla.”
The text of this story is published from a wire agency feed without any modification.
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