For the second time in less than eight weeks, Tesla is lowering its prices.
According to Reuters, the automaker has once again reduced the cost of its more expensive, older Model S sedan and Model X SUV.
Although these vehicles were ground-breaking when they were introduced in 2012 and 2015, they now face fierce competition from far more recent models from manufacturers like Rivian, Lucid, Mercedes, Porsche, and BMW. As a result, only 5% of Tesla’s total global sales in 2022 came from the Model S and Model X combined.
A Tesla Model S with two motors and all-wheel drive cost $104,990 in 2022. Tesla reduced the cost of around 10% in January, bringing it down to $94,990. At $89,990 right now, it is $5,000 less expensive.
For those who want to go really fast, the Model S Plaid, which uses three motors for a sub-2-second 0–60 mph time and a 200 mph top speed, is now $109,990, $5,000 less than last week and $26,000 less than you’d have paid in 2022.
The Model X SUV sees even bigger discounts. After heavy price drops in January, Tesla has now cut an extra $10,000 from Model X prices. That means the all-wheel-drive dual-motor version now starts at $99,990, with the triple-motor Plaid Model X starting at $109,990.
How long those prices will stay is anyone’s guess. Within less than a month of enacting its January price cuts, Tesla had already increased the prices of the Model Y crossover again.