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
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.
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Photo courtesy: Tesla
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Posted-In: electric vehicles EVs mobility Model S Model XNews Tech
