Tesla to sell Model S and Model X at lower prices after $10,000 markdown announcement

Tesla is once again slashing the prices of its most expensive electric vehicle models. The EV maker is said to be cutting the rates by as much as $10,000.

This is the second time this year that Tesla has reduced the prices of its top car models. In January, it lowered the prices of its Model X and Model Y units by up to $21,000, and now, a new price reduction is waiting for new buyers in the United States.

The vehicles are two of Tesla’s most expensive units, and the new price cuts are said to be a move in an attempt to increase the demand for its cars. The automaker is hoping that the big discounts will attract more customers as the Model S is now priced at $89,990 and up, which is five percent less than its previous price.

On the other hand, the Model X has a starting price of $99,990 now, and this shows a nine percent price reduction. For the plaid versions of the two car models, the starting price has been set to $109,990. This is four percent lower for the Model S Plaid units, while it is eight percent less for the Model X Plaid.

CNBC reported that these new price cuts are likely related to EV tax credits that were launched in President Joe Biden’s Inflation Reduction Act. in any case, Tesla’s latest discount offerings follow a series of big discounts in recent months, making the brand’s cars more affordable for households.

But then again, there are some Tesla buyers who are not pleased with the cuts because they said their vehicles’ value also diminished. One owner told The Walls Street Journal she felt she got duped and taken advantage of as a consumer.

"Right off the bat, I’m out $13,306,” she told the paper. “It is such a large reduction that it’s going to affect a lot of people who just bought a vehicle."

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