Tesla Cuts US Price For Model S And Model X Again

Electric vehicles are in a bit of an odd spot regarding pricing. On the one hand, you have the Chevy Bolt, which can be one of the biggest bargains in motorized transportation, electric or gas, with the right set of tax breaks, discounts, and incentives. On the other hand, vehicles like the Ford F-150 Lightning are immediately popular out of the gate — so popular that Ford couldn't keep up with demand, experienced issues with battery sourcing, and increased the price. The price increase did nothing to decrease the public's demand for the truck. 

In January, Tesla cut prices of its entire lineup by 20% or more for some models. Not to be outdone by a comparatively new automaker, Ford took an axe to Mustang Mach-E prices and lowered the MSRP by up to $5,900. Ford is also ramping up production on a significant portion of its lineup for 2023, and that will likely mean a price drop in the future, although nothing concrete has been announced. As of yesterday, Tesla again dropped the price of some of its models.

The latest in a series of price drops

According to Reuters, the Tesla Model X and S are now enjoying a small discount. A Tesla Model S Plaid, one of the fastest accelerating production cars to ever exist, will set you back $109,990, according to the order page on Tesla's site. That's about a 4% decrease from the previous price. The base model is set at $89,990. The Model X, according to reports, dropped by upwards of 9% in price. The base model sits at $99,990, and the Plaid version carries a tag of $109,990. 

No one will say that a six-figure performance car is a "bargain" by any stretch of the imagination. But price drops are always a good thing for the car buyer, and it may be a signal of things to come as automakers take production turnaround times more seriously and get the manufacturing fires burning hotter. It's a matter of time before other automakers respond to Tesla's price cuts.