Tesla slashes prices of Model S and Model X variants in US – website

March 5 (Reuters) – Tesla Inc (TSLA.O) has lowered the prices of its Model S and Model X vehicles in the United States, the website revealed, days after CEO Elon Musk said recent price cuts on other models fueled the demand.

Tesla’s Model S car prices were slashed by $5,000. The base Model S version would now cost $89,990, down from $94,990 before, while the performance variant would cost $109,990, from $114,990 previously.

Prices on both the performance and base variants of Model X cars were slashed by $10,000, the electric vehicle manufacturer’s website showed. The basic version would now cost $99,990, while the checkered version would now cost $109,990.

Musk has said repeatedly in recent months that Tesla would focus on lowering prices to stimulate demand and that it had seen success boosting orders with global discounts introduced in January.

“People’s desire to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla,” Musk said at Tesla’s investor day last week.

Reporting by Mrinmay Dey and Shubham Kalia in Bengaluru; Edited by Kim Coghill and Bradley Perrett

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