Tesla Introduces Cheaper Models with Shorter Range
Tesla Inc. has recently launched more budget-friendly versions of its popular Model S sedan and Model X SUV. The new "standard range" Model S starts at $78,500, which is $10,000 less than the next available option. Despite the lower price tag, this luxury sedan still offers an impressive range of 320 miles, albeit slightly less than the pricier alternative with a range of 405 miles.
For those looking for all-wheel drive capability, Tesla also offers the "Plaid" Model S starting at $108,500, boasting a range of 396 miles. Notably, the company claims that this particular model is currently the fastest accelerating car in production, capable of reaching 0 to 60 mph in under 2 seconds.
In addition to the Model S, Tesla has also released a "standard range" Model X priced at $88,500, with a range of 269 miles. Like its sedan counterpart, the next version of the Model X comes with a higher price tag and increased range. Furthermore, there is a pricier "Plaid" version available as well.
Interestingly, Tesla engaged in a price war by reducing the prices of two variants of its Model Y SUV by approximately $1,900 each in China. This move led to price adjustments from other legacy and electric automakers across countries.
Lucid Group Inc., an electric vehicle startup, recently followed suit by slashing up to 11% off the prices of its ultra-luxury electric sedans.
Despite some price reductions in the market, Tesla continues to thrive, with its shares having surged by approximately 90% this year. In comparison, the S&P 500 index saw a modest increase of only around 16%.
In its mid-July second-quarter earnings report, Tesla reaffirmed its ambitious goal of manufacturing approximately 1.8 million vehicles by 2023. However, the company cautioned investors to expect slightly lower production in the current quarter due to ongoing factory upgrades.
All Rights Reserved © 2024
Post a comment