Wednesday, 21 August 2019

Tesla drops cuts prices to simplify lineup

BEIJING: Tesla Inc has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the US electric vehicle maker reported record deliveries.

To simplify its offerings, the automaker on Tuesday limited variants of its Model X sport-utility vehicle and Model S sedan to “Long Range” and the more expensive “Performance”. It also trimmed the price of its now entry-level Long Range variants.

The discontinuation of the standard-range variants, however, means a rise in starting prices – to $84,990 for the Model X and $79,990 for the Model S, excluding potential buying incentives.

Tesla also lowered the starting price of its mass-market Model 3 to $38,990.

“To make purchasing our vehicles even simpler, we are standardizing our global vehicle lineup and streamlining the number of trim packages offered for Model S, Model X and Model 3,” Tesla said in a statement.

“We are also adjusting our pricing in order to continue to improve affordability for customers.”

Chief Executive Officer Elon Musk tweeted on Tuesday that the price of Tesla’s full self-driving option is “increasing by ~$1000 on August 16”.

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