Dealers' #1 source for auto industry news, content, coaching & analysis

Tesla releases cheaper, shorter-range versions of its Model S and X vehicles

As competition in the market for electric vehicles intensifies, Tesla launched less expensive versions of its Model S and Model X vehicles in the U.S.

According to Tesla’s website, the less expensive models of both vehicles, introduced on August 14, cost $10,000 less than the standard model. Compared to the Model X, the Standard Range of the Model X starts at $88,490. The less expensive model offers a driving range of 255–269 miles. In comparison, the Model X ranges from 330 to 348 miles and has a slightly quicker acceleration speed.

Compared to the Model S’s starting price of $88,490, the Model S Standard Range is $78,490. The driving range of the less expensive Model S is 298 to 320 miles. In contrast, the range for the Model S is between 375 and 405 miles.

To the detriment of profitability, Tesla is still primarily concerned with expanding its market share and increasing car sales. The vehicle manufacturer reported operating margins of 9.6% in its June quarter profits, the lowest in at least the previous five quarters. As other automakers launch EVs and the competition intensifies, Tesla is focusing on being competitive in pricing as part of a larger initiative.

Tesla has consistently adjusted its prices in essential areas. On August 13, the business further reduced costs for its Model Y and Model 3 vehicles in China.

The Model S and Model X are two of Tesla’s older models, and the price reduction may be an effort to revitalize them as buyers wait for the company’s Cybertruck to go into mass production next year.

Stay up to date on exclusive content from CBT News by following us on Facebook, Twitter, Instagram and LinkedIn.

Don’t miss out! Subscribe to our free newsletter to receive all the latest news, insight and trends impacting the automotive industry.

CBT News is part of the JBF Business Media family.

Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

Related Articles

Latest Articles

From our Publishing Partners