Tesla Drops the Price of Model S by $8,000 in Less Than Six Months

Oct 13, 2020   

Tesla has once again dropped the starting price of Model S.

Model S now starts at $71,990, with a Performance configuration available for $91,990.

This represents a price cut of $3,000. Tesla had previously dropped the price of Model S by $5,000 in May — a total price cut of $8,000 in less than six months.

The $71,990 starting price includes a Long Range Plus Dual Motor All-Wheel Drive configuration with 402 miles of range, a 3.7 second 0-60 time, Autopilot, and all available premium upgrades including Ultra High Fidelity Sound and the Subzero Weather package.

Plaid, a new Tri Motor configuration of Model S that’s expected to be released at the end of next year with over 520 miles of range and a 0-60 time of less than two seconds, remains at $139,990.

Real Talk
This should come as no surprise to anyone that follows the news surrounding Tesla: the automaker is determined to continue lowering production costs, and passing on those cost savings to consumers.

Model S has become less popular as Tesla’s focus has transitioned to Model 3 and Y. We think offering more upgrades and refreshes could serve to renew interest in Tesla’s high-end sedan, although Tesla is primarily using price cuts to increase sales.

This will affect used values by ~ 4%, as Model S offers more value than ever at a new low
starting price.


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