When it comes to Tesla now 50 will get you 60. That’s right, after federal tax credits the newest Model S, the 60, effectively costs $50,000, the maker claims.
The new model, which has a range of 210 miles, actually lists for $66,000. If you want to upgrade to the all-wheel drive model, the 60D, the price jumps to $71,000. That’s still cheaper than the current “least expensive” Model S 70D, which comes in at $75,300.
While it does lack some of the features of the pricier sedans, Model S 60 is pretty fast, doing the zero to 60 miles per hour dash in 5.5 seconds with a top speed of 130 mph. It’s also eligible to use Tesla’s national network of superchargers for free.
Actually, the 60 is not an original creation for the California-based EV maker. The company had a 60 model until late last year and it sold for $69,900.
(Tesla Model 3 buyers won’t get free lifetime use of superchargers. For more, Click Here.)
Tesla says its target with the lower-priced car is to actually lure in other luxury-car buyers. The new lower-priced Tesla can be leased at a price that the automaker thinks is competitive with rivals like Mercedes-Benz’ C-Class and Audi A4.
So until the Model S arrives sometime late in 2017 or early 2018, you’ll need to pony up at least $50k to get behind the wheel of a Tesla. However, the new Model 3 is said to be available for about $35,000 after the aforementioned tax breaks are applied. It will feature similar performance characteristics to the 60, although it will not be eligible for the free, unlimited use of the company’s superchargers.
(Click Here to see why Tesla is looking to raise $2 billion with a new stock offering.)
By the time it arrives, the competition, primarily the Chevrolet Bolt will be on the scene. Like the Model 3, it’s expected to get more than 200 miles on a charge and actually cost about $30,00 after incentives.
Tesla, which just capture the top spot in AutoPacific’s 2016 Vehicle Satisfaction Awards, is in the midst of several growing pains. Tesla has been slammed hard in recent months for quality and reliability problems that, among other things, led influential Consumer Reports magazine to pull its coveted “Recommended Buy” rating for the Model S.
(Tesla among brands most bedeviled by software glitches, reports JD Power. Click Here for the story.)
Musk has promised to fix that problem in time for the Model 3 launch. A whole new management team has been brought in to revamp the company’s manufacturing system. The company is still solidly in the red and will soon launch another stock offering to help finish funding the car’s development.