Tesla delivers big price cuts to Model S and Model X vehicles

Tesla made a flurry of announcements this afternoon with the highlight being the company’s reveal of its $35k Model 3. That reveal grabbed the most headlines, but updates to the Model S and Model X lines brought the costs of high-end models down with maxed out Performance + Ludicrous Mode versions of the S and X receiving healthy $18k discounts.

The $35,000 Tesla Model 3 has arrived — but it comes with a price

The Model S has the same entry-level price at $79k but the price bump to go from the Standard Range to more souped up versions is a lot more accessible with some huge price drops on the Long Range and Performance models.

The Long Range Model S, which takes the top speed from 140mph to 155 mph and the range from 270 miles to 335 miles, now prices in at $83k, down from $96k. With $4k separating the standard and long-range models, it’s interesting that they even decided to keep the Standard Range version and didn’t just have the Long Range as the entry-level model with the Performance version (now $13k cheaper as well at $99k) maxing things out.

The Long Range Model X now starts at $88k, down from $96k. Moving up to the Performance model which drops the 0-60 mph time to 3.5 seconds is $104k, previously $117k. With both Performance models of the S and X, you can add Ludicrous Mode for $15k, an upgrade that used to be $20k.

How is Tesla able to make these big cuts? Well, Tesla CEO Elon Musk highlighted the company’s coming closure of its physical dealerships as a major catalyst for the price drop across its product line.

“Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected,” the company wrote in a post.

Via Tesla:

Model S variants

Standard Range ($79K): 270-mile range; 140mph top speed; 4.2-sec 0-60mph.
Long Range (now $83k; previously $96k): 335-mile range; 155mph top speed; 4.1-sec 0-60mph.
Performance (now $99k; previously $112k): 315-mile range; 155mph top speed; 3.0-sec 0-60mph.
Performance + Ludicrous Mode (now $114k; previously $132k); 155mph top speed; 2.4-sec 0-60mph.

Model X variants

Long Range (now $88k; previously $96k): 295-mile range; 155mph top speed; 4.7-sec 0-60mph.
Performance (now $104k; previously $117k): 289-mile range; 155mph top speed; 3.5-sec 0-60mph.
Performance + Ludicrous Mode (now $119k; previously $137k): 289-mile range; 155mph top speed; 2.8-sec 0-60mph.