Tesla has slashed prices for its Model S sedan and Model X SUV in the US, according to the company’s website. It’s the second time Tesla has cut prices this year, and it could be a move to boost sales by the end of the quarter.
The Model S all-wheel drive currently retails for $89,990, down 5.2% from $94,990, or about $5,000. The Model S Plaid is currently at $109,990, down 4.3% from $114,990.
The Model X All-Wheel Drive is priced at $99,990, down 9.1% from $109,990, or $10,000. Plaid is currently at $109,990, down 8.3% from $119,990.
The latest price cuts come after Tesla cut prices significantly in January and are at least the fifth time the automaker has cut the cost of its vehicles in the past few months. At Tesla’s Investor Day at the company’s Austin factory last week, CEO Elon Musk and other leaders discussed the importance of efficient manufacturing and cost savings.
“The desire of people to own a Tesla is very high,” Musk said. “The limiting factor is the ability to pay Tesla.”
The Tesla Model 3 and Model Y will receive a $7,500 federal tax break in the United States through the end of this month.
