Tesla Model X Now $3,000 Cheaper
The Model X Sports Utility Vehicle base model is now worth $79,500, after a price cut of $3,000. The carmaker cited improving margins as the reason for the discount, as Tesla shifts to a higher production volume in its plants as driven by the demand for the Model 3.
Among the reasons to lower the base price of the Tesla Model X, waning demand is not among them, as Elon Musk, Chief Executive for the company, stated. "When we launched Model X 75D, it had a low gross margin," he said on Friday, Aug. 4.
"As we've achieved efficiencies, we are able to lower the price and pass along more value to our customers," Musk explained in a statement announcing the price cut, as quoted by Reuters.
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The original price of the Model X 75D, the base model for the electric SUV, was at $82,500. Meanwhile, the Model X P100D, the flagship model of the line boasting longer range and more horsepower, starts at $145,000 when bought with cash.
Musk also assured analysts and investors that their progress with the Model 3 had not resulted to lower demand for the Model X. On the contrary, the Model X and the Model S have actually been performing better, demand-wise, after the release of the much-anticipated Model 3, which starts at $35,000.
Meanwhile, the price for the Model S 75D remains unchanged by this new development, as noted by The Verge. The sedan remains at $74,500 as of this time, after the Model S got its own $3,000 price cut back in April this year.
This means that this new discount by Tesla brought back the gap between the prices for the base models of the Model S and the Model X back to the $5,000 mark. With the lower prices also come more features, as the both variants start to get more options formerly reserved to the higher-end models of the cars.
