According to updates to its website that TechCrunch noticed, Tesla has reduced the pricing of its high-end Model S and Model X electric automobiles by $5,000 (5.2%) and $10,000 (9.1%), respectively.
The Model X has decreased $21,000 from $120,990 at the start of the year to just $99,990 right now thanks to the company's second price cut this year. The Model S, on the other hand, has seen a significant $15,000 decrease since January 1st, going from $104,990 to $89,990.
Both vehicles are ineligible for federal tax credits that will expire later this month since they are only available for SUVs and cars priced under $55,000 and $80,000, respectively. But, they're probably going to tip a lot of on the fence individuals. That agrees with Tesla CEO Elon Musk's statement that "people's desire to own a Tesla is extremely high... [but] the limiting element is their ability to pay for a Tesla" during Tesla Investor's Day.
Because to Tesla's January price reductions on those EVs, the majority of Model 3 and Y vehicles do qualify for the rebates. (Remember that since it's a "nonrefundable" tax credit, you may only take advantage of it if you owe at least $7,500 in federal taxes.) However, the regulations will change in mid-March, and many EVs that currently qualify might lose their eligibility.
Follow Us