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Tesla Hikes Prices By $2,000 On Model S, X Variants In The US: Here Are The New Prices

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Tesla Hikes Prices By $2,000 On Model S, X Variants In The US: Here Are The New Prices

EV giant Tesla Inc (NASDAQ:TSLA) on Thursday hiked prices of all variants of its more premium offerings Model S and Model X in the U.S.

What Happened: While the Model X SUV now starts at $79,990 on Tesla’s website, the Model S sedan starts at $74,990. The starting price on the Plaid versions of the two vehicles has also been increased by $2000.

The new prices are now as follows:


Model and Variant New Pricing Old Pricing
Model X All-Wheel Drive $79,990 $77,990
Model X Plaid $94,990 $92,990
Model S All-Wheel Drive $74,990 $72,990
Model S Plaid $89,990 $87,990

Source: Tesla

Why It Matters: Tesla cut prices on these vehicles by $2,000 in April ahead of the company’s first-quarter earnings in April. The prices have now been restored to their start-of-the-year values in the run-up to the company’s second-quarter earnings scheduled for July 23.

The Model S and X are Tesla’s more premium vehicle offerings together with its stainless steel Cybertruck. In the second quarter, Tesla sold 21,551 units of Model S, X, and Cybertruck cumulatively, accounting for merely 5% of the company’s overall global deliveries. 95% of Tesla’s deliveries are of its mass-market offerings- Model 3 sedan and the Model Y SUV.

The company delivered 443,956 vehicles in the second quarter worldwide, marking a 4.8% drop from last year.

Price Action: Tesla shares closed up 0.3% at $249.23 on Thursday. The stock is up just 0.3% year-to-date, according to data from Benzinga Pro.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

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Photo courtesy: Tesla

 

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Posted-In: electric vehicles EVs mobility Model S Model XNews Tech

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