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Tesla Cuts Price on Model X and Drops Buyback Guarantee

Moves follows cut in Model S price, shortfall in Q2 production and sales.

by on Jul.14, 2016

The Model X 60D cuts range to just over 200 miles but is $9.000 less than the 75D.

Struggling to build sales momentum, Tesla says it will launch a new, lower-priced version of its Model X crossover-utility vehicle. The automaker took a similar step to deliver a more affordable version of its Model S sedan last month.

The move follows news that Tesla had missed both its production and sales targets for the second quarter of 2016 – and as the automaker faces three separate investigations related to potential problems with its semi-autonomous Autopilot system.

We'll Keep You Charged Up!

But while potential buyers will now be able to purchase a Tesla Model X 60D for $74,000, or $9,000 less than the old base battery-electric SUV, Tesla is doing away with the guaranteed buyback program that covered the Model S sedan, assuring owners they would get at least 50% of the purchase price back after three years.