Tesla Lowers Pricing Amid Pandemic

May 27, 2020   

Tesla has dropped prices across its lineup by as much as $5,000 in the light of the current global pandemic.

Model 3 Standard Range Plus now starts at $37,900 — a reduction of $2,000. All other configurations of the Model 3 also saw a $2,000 price cut. (The $35,000 Standard Range Model 3 is still available; however, Tesla hasn’t made any changes to its features or price.)

Model S starts at $74,990 for a top-of-the-line Long Range Plus configuration that features 391 miles of range and a 3.7 second 0-60 time. Model S Performance, which includes Ludicrous Mode and a 2.3 second 0-60 time, is available for $94,990.

Model X saw a similar price cut, with its Long Range Plus base configuration starting at $79,990. Model X Performance starts at $99,990.

Model Y was the only current Tesla model that didn’t have any price adjustments. It was recently released right before the pandemic began and Tesla is still fulfilling orders that had been placed months prior, so it’s understandable that they wouldn’t need to discount it.

Tesla is offering contactless delivery at many of its locations across the U.S.

Real Talk

It was inevitable that the market had to react to the current ongoing situation. Many consumers aren’t buying cars at this time, so Tesla had to adjust to the demand accordingly.

These changes will spill over into the used market simply due to the fact that there’s less demand for a high-end vehicle at this time. It’s a buyer’s market.

Tesla is also offering more value across its lineup, with basic configurations of vehicles like the Model S and Model X no longer available yet starting prices are similar today for a top-of-the-line spec.
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