Tesla has unveiled two cheaper versions of its cars in the United States – the Model S sedan and the Model X SUV with a shorter range, continuing its cost-cutting strategy to boost sales, Reuters reports.
The new base models S and X cost $78,490 and $88,490, which is 10% cheaper than the previous cheapest versions. They will be available for delivery from September to October 2023.
The cars with the lowest price have a pearly white exterior color and a black interior. Other colors are available at an additional cost.
The range of the new Model S is up to 515 km, which is less than the previous base and sport versions, which can travel up to 652 km and 637 km.
The new Model X has a range of up to 433 km, which is also significantly less than the base and sport versions, which provide 560 km and 536 km.
The Model S and X were introduced by the company in 2012 and are considered to be more premium offerings compared to the more affordable Model 3 sedan and Model Y crossover.
In the second quarter of 2023, sales of Model X and S cars totaled 19,225 units, up from 16,162 units in 2022.
Also on August 14, the company cut prices for its Model Y car models with a large range and increased performance in China. This led to a decline in the market value of the shares due to investor outrage over possible negative impacts on future profits.
