According to information posted on Tesla Inc.'s website on Thursday, the company increased the U.S. prices for the Model S and X luxury electric vehicles, even though they are still 20% less expensive than they were at the beginning of the year following a flurry of price reductions to spur demand.
Since January, Tesla has been reducing prices across the board, including as many as six times in the US up until Tuesday, to increase sales, particularly of its mass-market vehicles, the Model Y crossover and the Model 3 sedan.
The performance variants of the Model S and Model X from Tesla are now priced at $107,490, up from the previous price of $104,990, according to the company's website.
While the Model S's price jumped by about 2.9% to $87,490, the Model X's is now about 2.6% more expensive at $97,490.
All four models' pricing are still between 16% and 23% less expensive than they were at the beginning of the year.
Days after revealing that deliveries of the Model S and Model X fell by 38% from January to March, Tesla lowered pricing on both variants of these vehicles by $5,000.
Elon Musk, the CEO of Tesla, said on Wednesday that the electric vehicle manufacturer would put sales growth ahead of profit in a struggling economy, continuing the pricing war he launched at the end of last year.
In order to increase demand and fend off escalating competition, the company aggressively reduced prices in regions like China and the US, posting its lowest quarterly gross margin in two years and missing market expectations.
Jim Farley, the CEO of Ford, stated on Thursday that Tesla was setting the standard for a more dynamic approach to pricing electric vehicles, one that other manufacturers would have to adopt.
(Source:www.usnews.com)
Since January, Tesla has been reducing prices across the board, including as many as six times in the US up until Tuesday, to increase sales, particularly of its mass-market vehicles, the Model Y crossover and the Model 3 sedan.
The performance variants of the Model S and Model X from Tesla are now priced at $107,490, up from the previous price of $104,990, according to the company's website.
While the Model S's price jumped by about 2.9% to $87,490, the Model X's is now about 2.6% more expensive at $97,490.
All four models' pricing are still between 16% and 23% less expensive than they were at the beginning of the year.
Days after revealing that deliveries of the Model S and Model X fell by 38% from January to March, Tesla lowered pricing on both variants of these vehicles by $5,000.
Elon Musk, the CEO of Tesla, said on Wednesday that the electric vehicle manufacturer would put sales growth ahead of profit in a struggling economy, continuing the pricing war he launched at the end of last year.
In order to increase demand and fend off escalating competition, the company aggressively reduced prices in regions like China and the US, posting its lowest quarterly gross margin in two years and missing market expectations.
Jim Farley, the CEO of Ford, stated on Thursday that Tesla was setting the standard for a more dynamic approach to pricing electric vehicles, one that other manufacturers would have to adopt.
(Source:www.usnews.com)
