In the wake of the coronavirus pandemic, Tesla is looking for ways to boost sales of its vehicles, like all automakers around the world today. Tesla has decided that the way to increase sales is to cut prices, and it slashed as much as 6% off the price of its vehicles available in North America.
Significant Price Reductions Across Models
The most significant discount comes on the Tesla Model X SUV that now starts at $79,990, a price cut of $5000 from the previous pricing. The Model X, known for its impressive range and advanced features, has been a popular choice among electric vehicle enthusiasts. The price reduction makes it more accessible to a broader audience, potentially increasing its market share.
The Model S, Tesla’s flagship sedan, also received a $5000 price cut. The Model S has long been celebrated for its performance, luxury, and cutting-edge technology. With the new pricing, the Model S starts at $74,990, making it a more attractive option for those looking for a high-end electric vehicle. The Performance versions of both the Model S and Model X also saw similar $5000 reductions, which could entice buyers interested in the top-tier variants of these models.
Adjustments to the Model 3 Pricing
Tesla did discount the cheapest of its cars, the Model 3. However, the Model 3 saw a $2000 price reduction to a new MSRP of $37,990 for starters. The Model 3 has been Tesla’s best-selling vehicle, known for its affordability and impressive range. The price cut makes it even more competitive in the growing electric vehicle market.
The long-range version of the Model 3 now starts at $46,990, offering an extended range for those who need to travel longer distances without frequent charging. The Performance version, which provides a sportier driving experience with quicker acceleration and higher top speeds, is now priced at $54,990. These adjustments make the Model 3 lineup more appealing to a diverse range of customers, from budget-conscious buyers to performance enthusiasts.
Changes to Supercharger Access
In addition to the price cuts, Tesla also announced a significant change regarding its Supercharger service. The Supercharger network, known for its fast-charging capabilities, has been a major selling point for Tesla vehicles. However, Tesla stated that its Supercharger service would no longer be free to buyers of the Model S or X vehicles. This change means that new owners of these models will need to pay for Supercharger access, which could impact the overall cost of ownership.
While this move might seem like a drawback, it aligns with Tesla’s strategy to make its Supercharger network sustainable and to encourage responsible usage. Existing owners who already have free Supercharger access will not be affected by this change.
Implications for the Electric Vehicle Market
Tesla’s decision to cut prices comes at a time when the automotive industry is facing unprecedented challenges due to the global pandemic. With many consumers tightening their budgets, the price reductions could make Tesla’s vehicles more attractive to potential buyers. Additionally, these cuts could put pressure on other automakers to adjust their pricing strategies to remain competitive in the electric vehicle market.
The price reductions also highlight Tesla’s commitment to making electric vehicles more accessible to the masses. By lowering the entry price for its vehicles, Tesla is likely to attract a new wave of customers who may have previously considered electric vehicles to be out of their price range.
Overall, Tesla’s price cuts and changes to the Supercharger service reflect the company’s adaptive strategy in response to the current economic climate. As the electric vehicle market continues to evolve, Tesla’s moves could set new standards and expectations for both consumers and competitors.
via Autoblog
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