Tesla Model S price cut makes long-range EV more affordable

Tesla has quietly dropped the price of its Model S electric sedan, trimming several thousand dollars from the luxury EV. Oldest vehicle in Tesla's current range, the Model S still puts most electric rivals to shame when it comes to range, while the recently-announced Tri Motor All-Wheel Drive "Plaid" edition car proves speed is no problem, either.

Still, it's fair to say that for the last few years the main sales action has been around Tesla's more affordable cars. The Model 3 and the Model Y are both considerably cheaper than the Model S, not to mention feature newer technology and design. They're also easier for Tesla to produce.

To nudge Model S sales into action, Tesla has done another price adjustment today. The Model S Dual Motor All-Wheel Drive – most affordable of the line-up – now starts at $71,990 for the Long Range Plus version. That's rated at 402 miles of range under EPA test conditions, has a 155 mph top speed, and does 0-60 mph in 3.7 seconds.

Previously, it started at $74,990, making this a $3,000 reduction.

Also reduced is the Performance version of the car, which now starts at $91,990. That's also a $3k cut. It has less range, at 348 miles, but is faster with a top speed of 163 mph and a 2.3 second 0-60 mph time. It also adds Ludicrous Mode, Tesla's faster sport mode setting, changes to the interior trim and styling, and a carbon fiber spoiler on the back.

The "Plaid" edition car, which is up for preorder now at $139,990, has not been reduced unlike the other two models. It's expected to begin production in late 2021, and will have a top speed of 200 mph and a 0-60 mph time coming in under 2.0 seconds, Tesla says. Three motors will give it all-wheel drive and a 520+ mile range, Tesla suggests.

It's not the first adjustment to the Model S price we've seen of late, or even of this year. Keeping the pricing fluid has allowed the automaker to respond to the absence of federal tax incentives for its cars, which were phased out after it hit the US sales limit for EV-makers. Meanwhile, CEO Elon Musk has said the company will make a push to boost Q4 2020 production as it builds on a number of successful quarters.