Yahoo Autos Tesla Cuts Prices on Model 3, Model S, and Model X by $2000
Tesla has cut base prices on all nine variants of its Model 3 and Model S four-doors and its Model X crossover by $2000 as the automaker adapts to a mandatory phaseout of the federal tax credit.
The Model 3 now starts at $45,200 for the Mid Range version; it is the cheapest new Tesla currently for sale (the long-promised $35,000 Standard Range version is now said to be four to six months away). The Model 3 Long Range starts at $52,200 and the Performance-which in October added the Performance Upgrade at no extra charge-lists at $63,200. That formerly $5000 option adds 20-inch wheels on Michelin Pilot Sport 4S tires, upgraded brakes, a 10-mph increase in top speed to 155 mph (we observed 153 mph when we tested one last year), a carbon-fiber spoiler, aluminum pedals, and a lowered suspension.
The Model S begins at $77,200 for the 75D, $95,200 for the 100D, and a still eye-watering $134,200 for the P100D. The pricier Model X follows suit, at $83,200, $98,200, and $139,200 for the same three trims, respectively.
The move follows a wave of price cuts (and jumps) as Tesla trimmed option packages, colors, and equipment to increase production. Tesla said it built 86,555 cars in the fourth quarter and delivered 245,240 cars to customers worldwide in 2018, which nearly equaled how many cars it sold “in all prior years combined.”
Tesla buyers no longer qualify for the full $7500 federal tax credit as of January 1. Instead, because Tesla has reached the 200,000-unit sales cap as set by the Internal Revenue Service, the tax credit is halved to $3750 for sales completed by the end of June and halved again starting July 1 to $1875. By 2020, there will be no taxpayer-subsidized incentives for Tesla.
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