Economy

Tesla Tweaks Pricing Across All Models

Tesla Tweaks Pricing Across All Models

"We are standardizing our global vehicle lineup and streamlining the preference of tidy functions supplied for Model S, Model X and Model 3".

The idea behind the adjustments is to simplify the ordering experience for customers, to standardise the vehicle line-up globally - presumably a good idea for ease of manufacture - and to allow some wriggle room on pricing.

The Model 3's Standard Range Plus trim has dropped by about $500 to $38,990 in the US.

Tesla is adjusting prices "in order to continue to improve affordability for customers", the Chinese unit said in a statement.

There are other changes in the lineup. It is becoming clear that Tesla's prices will not remain a constant as the company has been shifting them both down and up throughout the a year ago.

So what does this latest tweak mean?

Its website showed the Model 3 starting price is now 355,900 yuan ($51,780), down from 421,000 yuan.

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To simplify its offerings, the automaker on Tuesday restricted variants of its Model X sport-utility vehicle and Model S auto to "Long Range" and the more costly "Performance". There have been three major pricing changes this year, and they've occasionally been confusing (such as the deaths and rebirths of the Standard Range Model S).

As part of the update, Tesla is bundling its high-performance "ludicrous mode" into the price of the top of the line Model S Performance and Model X Performance variants.

The now "entry level" Long Range versions of those vehicles, meanwhile, come with "industry-leading" battery range and an "all-new adaptive suspension system". Costs of the Model S and Model X had been cut about 4 per cent to 776,900 yuan and 790,900 yuan, respectively.

This means that the new drive-away price (NSW) for the Long Range Model S - $A146,140 - comes in at around $10,000 more than the Standard model used to cost ($A135,390), before the March price cut.

Watch Tesla trade live on Markets Insider.

Despite reports that it won't be able to meet Elon Musk's goal for record production and sales for Q2, Tesla said earlier this month that it achieved record production of 87,048 vehicles and record deliveries of around 95,200 vehicles, beating analyst expectations, sending the stock rallying 7 percent on the next day, and giving Tesla bulls new hope.


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