Model S and X prices dropped. The price reductions started by Tesla in January continued.
Electric car manufacturer Tesla has lowered the prices of its two most valuable car models in the United States. This is revealed on the company’s website in the United States, reports the news agency Reuters.
Prices for all models of the Model S dropped by $5,000 in the United States. The price of the base model dropped by five percent to $89,990.
Model X model prices dropped by $10,000. The price of its base model dropped by nine percent to $99,990.
The company managing director Elon Musk has said several times in recent months that Tesla is focusing on lowering prices to increase demand.
In January, Tesla significantly lowered its prices, and since then the company has been changing them at a faster pace than what the industry is used to seeing. Prices also fell in Finland.
Read more: Tesla lowered prices, sales in Finland increased by more than 1,000 percent
According to Reuters, many analysts have interpreted the steep discounts as the start of a price war in the electric car market.
According to Musk, the global price reductions made in January have resulted in new orders.
The latest price cuts on the most expensive car models in the US came a few days after Tesla’s investor day last week. This is the company’s fifth price change in the United States this year, Reuters reports.
Read more: Tesla drastically cuts the prices of its cars, it also applies to Finland – competitors’ rates are falling
Model S and X accounted for about four percent of Tesla’s global shipments in 2022.
Tesla’s the stock has become more expensive this year. Compared to Friday’s closing price, the share price has risen by almost 61 percent this year.
At the end of December, Tesla’s stock cost around $123. At its highest this year, the stock has traded at nearly $218.
At the end of Friday, the stock was close to $198.
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