

Tesla cuts Model S prices by $3,000 in the US

The slice applies to both the Long Range Plus and Performance variants.

Lower prices? I don't think you'll hear a single buyer complain about that.

Tim Stevens/Roadshow

Much of the attention paid to Tesla these days comes from its smaller, more affordable electric vehicles, the Model 3 sedan and Model Y crossover. Its larger vehicles, however, have seen deliveries dip year over year this past quarter, so it's no surprise that one of those cars is getting a price cut.

Tesla quietly updated the pricing on its website overnight between Tuesday and Wednesday. The two currently available variants of the Model S have been given $3,000 price cuts each. The Long Range Plus' price drops from $74,990 to $71,990, while the Performance variant goes from $94,990 and $91,990. The automaker's website also lists the Plaid model at $139,900, but it has not been given a price reduction; it'll be made available to consumers until next year. Heck, even the newest models aren't immune to price adjustments. In July, Tesla reduced the price of the Model Y by $3,000 to nudge its newest EV under the $50,000 mark.

This isn't the first time Tesla has reduced its prices in 2020. In May, Tesla lowered the Model 3's starting price by $2,000, while simultaneously reducing the window stickers on both the Model S and Model X by $5,000. The move was likely in response to the novel coronavirus pandemic, which hasn't been kind to any facet of the automotive industry.

It's unclear why Tesla has again reduced its prices. Tesla does not operate a public relations department to field requests for comment.

Despite looking the same since its refresh in 2016, Tesla has slowly updated its oldest vehicle with some new tricks. Thanks to advancements in technology, the Model S Long Range Plus now sports an EPA-estimated 402 miles of range, a far cry from its earliest iterations. Even the Performance model packs an impressive 348 miles of estimated EV range.

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