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Tesla Slashes Model S and Model X Plaid Prices

It’s hard to time when Tesla is going to randomly increase and decrease prices for its electric cars. Consumers that purchased a Tesla Model S and Model X before March 5th will be upset to hear that prices for Tesla’s largest and priciest models have dropped dramatically. Shoppers looking to purchase a 2023 Model S and Model X will find that prices have dropped by approximately $5,000 and $10,000, respectively.

Visit Tesla’s website, and you’ll see that the 2023 Model S starts at $91,380 (including destination), which is down from the sedan’s previous starting price tag of $96,380. Pricing for the Model X now starts at $101,380 for 2023, down more than $10,000 from the previous price of $111,630.

The high-performance Plaid versions of the Model S and Model X both start at $111,380, representing a decrease from before. Previously, prices for the Plaid model started at $116,630 for the Model S and $121,630 for the Model X.

The price cuts for the Model S and Model X represent a decrease by 4% for the sedan and 9% for the SUV. They also follow price cuts that happened at the beginning of the year when Tesla reduced pricing for the Model S and Model X by roughly $10,000. Despite the price cuts, the Model S and Model X are still Tesla’s priciest vehicles.

Tesla Model X

We assume that the recent price cuts are because of increased competition. The Model S now faces off against the Lucid Motors Air, Porsche Taycan, BMW i7, and Mercedes-Benz EQS. Pricing for the Model S’ competitors range from $105,550 for the EQS to $88,150 for the Taycan.

Things are even more competitive for the Model X. Electric SUVs in the segment include the GMC Hummer EV SUV, Rivian R1S, Audi Q8 e-tron, Mercedes-Benz EQS SUV, and BMW iX. The Model X’s main rivals range from $79,800 to $112,595.

It doesn’t sound like Tesla will be offering any refunds for shoppers that were caught out by the price cuts, which means that anyone that purchased a Model S or Model X at full price before the price decrease are out of luck. That’s the way it goes with Tesla.

Source: CarBuzz

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      Based out of the Washington, D.C. area, Joel Patel is an automotive journalist that hails from Northern Virginia. His work has been featured on various automotive outlets, including Autoweek, Digital Trends, and Autoblog. When not writing about cars, Joel enjoys trying new foods, wrenching on his car, and watching horror movies. 

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