Potential new Tesla buyers may end up paying a bit more than they expected — or a bit less, depending upon what vehicle they’re after. The Palo Alto, California-based EV maker announced pricing adjustments all of its vehicles.
The company is dropping the standard-range versions of its Model X and Model S to simplify its product offerings for the two models. Additionally, its cut the starting price on its entry-level Model 3 down to $38,990.
“To make purchasing our vehicles even simpler, we are standardizing our global vehicle lineup and streamlining the number of trim packages offered for Model S, Model X and Model 3,” Tesla said in a statement.
“We are also adjusting our pricing in order to continue to improve affordability for customers.”
Now buyers can only get two variants of its Model X sport-utility vehicle and Model S sedan: Long Range and the more expensive Performance version. To take some of the sting out of it, the company also reduced the price of its now entry-level Long Range variants.
The discontinuation of the standard-range models means that the prices for both vehicles have risen. In the case of the Model X the price has jumped to $84,990 while the Model S rises to $79,990, excluding potential buying incentives.
The company, which just reported record sales and production results, says the move is to make it easier to buyer its vehicles as well as making them more affordable. However, the moves beg the question: how does this all impact the upcoming debut of the Model Y?
At its debut in March, CEO Elon Musk told an excited crowd that the newest EV would start at $39,000 for the “standard-range” version. However, the next iteration jumps to $47,000 and tops out at $60,000. Could a tweak of Model Y prices be in the works to create a little pricing space between the Model 3 and Model Y?
The Model Y will be available in fall 2020, except for the standard range version, which won’t arrive until early 2021. No word on any changes to the Model Y pricing yet.