Tesla Model S receives price adjustment as record fourth quarter push begins

With an extremely ambitious goal of delivering more than 180,000 vehicles this quarter, Tesla is wasting no time in making its electric cars as attractive to customers as possible. This is evident in the electric carmaker’s recent update, which introduced price adjustments for the Model S Long Range Plus and Performance, reducing the price of the vehicles by around $3,000.

With the current price, the Long Range Plus variant of the Model S could now be purchased for $71,990 before potential savings, while the Performance variant could be purchased for $91,990 before savings. Previously, the vehicles were priced at $74,990 and $94,990 before savings, respectively. It should be noted that the price of the Model S Plaid, a high-end variant that will be released at the end of next year, remains unchanged at $139,990.

As noted in a Drive Tesla Canada report, price adjustments for the Model S in Canada were a little more varied, with the Performance variant receiving a CA$6,000 (about $4,500) cut and the Long Range Plus trim receiving a $4,000 price cut. CA (about $3,000).

With its recent price adjustment, the Model S Long Range Plus has become one of the most compelling premium electric vehicles on the market today. At $71,990 before savings, the Model S Long Range Plus costs less than the initial price of the Model 3 Performance, which debuted in 2018 with a $78,000 price without Autopilot. Meanwhile, Tesla was still selling the Model S 75D with 259 miles of range at a base price of $74,500.

A look at the price of the discontinued Model S 75D in 2018 shows just how far Tesla has achieved when it comes to its continued improvements in its vehicles. It’s quite fascinating to see, after all, that just over two years ago Tesla was selling its entry-level 75kWh, 259-mile Model S at a higher price than the current base Model S. of 100 kWh and 402 miles. And even then, the S 75D model was considered a bargain, given the vehicle’s size, technology, and utility.

Tesla’s recent price cut on the Model S Long Range Plus and Performance could very well result in the vehicle receiving more orders this quarter. This is extremely important for Tesla, given that the company aims to deliver more than 180,000 vehicles in the fourth quarter of 2020. If the company is successful, Tesla could reach its self-imposed goal of delivering half a million vehicles this year.

Somehow, a price cut for the flagship sedan seems like a smart strategy, given that the S and X models are produced in the same lineups at the Fremont factory. Between the two vehicles, the Model S would be easier to produce in large numbers this quarter, as it is a large premium sedan instead of a vehicle that Elon Musk describes as “the Fabergé egg of the cars” because of its complexity.

Tesla Model S receives price adjustment as record fourth quarter push begins

Eleanor C. William