Tesla lowers price of sedan and SUV to help buyers get tax break
Jenny Goldsberry
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Tesla lowered the price of two of its models on Thursday to make way for its revamped Model 3.
The Model S sedan now costs $74,990. It cost $104,990 at the beginning of this year. Its Model X SUV’s price tag is $79,990, down from $120,990.
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As a result, the Inflation Reduction Act’s federal tax credit for electric SUVs is applicable to the Model X now that its price is under $80,000.
Meanwhile, the Model 3 has an upgraded 377 mileage after a single charge, which is 9% better than before. Tesla’s classic touchscreen system in the front seat now has a duplicate for the backseat of the Model 3 and a new speaker system.
Its price subsequently increased 12% to $35,800. This does not include the basic autopilot option, which comes free with every model. A full self-driving mode costs an additional $12,000, a $3,000 increase.
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There are over 13,000 Supercharger posts across over 1,000 sites in 36 countries to facilitate charging for Tesla owners. Tesla sold a record 1.3 million vehicles in 2022 despite its volatile stock value. Sales grew by 47% from the previous year.
Tesla stock dropped over 5% as of 2:30 p.m. Friday.