In response to evolving consumer preferences, Tesla has unveiled new, more affordable options tailored for those seeking reduced range. The automaker has reintroduced the “standard range” trim level for its two premium models, resulting in a $10,000 price reduction and a decrease of approximately 80 miles from the electric vehicle’s (EV) range.
Tesla Adjusted Pricing and Range Specifications
Under this fresh offering, the Model S can now be acquired with a starting price of $78,490, boasting a range of 320 miles. Similarly, the Model X enters the market at $88,490, providing a range of 269 miles. These figures show a significant change from the earlier price points. The Model S previously cost $88,490 and had a range of 405 miles. The Model X was priced at $98,490 and provided a range of 348 miles.
Reintroduction of the Standard Range Trim
In 2021, Tesla stopped producing the standard range trim. Tesla focused on extended range and high-performance Plaid kits instead. But now, Tesla is strategically bringing back the standard range trim. This move aims to serve a wider range of customers.
Implications of the Trim and Battery Pack
Upon reviewing the Model S and Model X product pages, it’s evident that the new Standard Range trim shares the same weight as the extended range option. This suggests that both variants are equipped with identical battery packs, with the range being software-limited. It’s possible that Tesla may provide an option for owners to unlock additional range post-purchase, with the price difference factored in.
A Shift in Tesla Pricing Strategy
This move aligns with Tesla’s recent pattern of global price adjustments over the past year, contributing to a decline in gross margins. The automaker has periodically reduced the prices of the Model Y and Model 3 during this period. Notably, even the higher-tier Model S and Model X experienced price cuts. However, this instance stands apart from previous adjustments as it marks the first time Tesla has simultaneously reduced both the price and range to introduce vehicles at a more accessible price point.
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