Sci-tech

Tesla cuts the price on its entry-level Model S by $7500

Tesla cuts the price on its entry-level Model S by $7500

So, there you have it: something of a pricing shake up over at Tesla HQ.

Tesla dropped the price on their entry-level Model S, with a $7,500 discount to the 75kWh version, which now starts at $69,500.

Price decreases for 75, 75D and 90D models take effect today, while the upcoming price increases for Tesla's 100D and P100D models become active on April 24, 2017. So an owner who doesn't mind the smaller battery still saves a little as compared to the new 75kWh price. That's just $1,500 more than the 60 kWh version, which has been discontinued. The lesson is this: Patience is rewarded for would-be Tesla buyers - but of course, you need to take the plunge at some point if you want the vehicle, so waiting forever isn't an option. Keep in mind, though, that the Model 3, which will be approximately 20% smaller in size than the S, will be a more efficient vehicle - so a top-end 75kWh Model 3 will be able to go further than a base-model 75kWh S.

Tesla's automotive gross profit margin is particularly important as the company brings its Model 3 to market later this year. The changes could potentially increase demand for Model S while also helping the electric-car maker maintain its profit margin - two key areas for the company right now. Tesla buyers in Colorado, for example, can take advantage of a generous $5,000 rebate on top of the aforementioned federal income tax credit. This means that it is no longer possible to order any Tesla with a "normal" opaque metal roof.

So, what do you do if you just recently ordered a 60kWh Model S?

"Periodically we have adjusted pricing and available options to best reflect the value of our products and our customers' preferences", Tesla said today in a press release. That is made possible because all 60 kWh cars were built with range-limited 75 kWh battery packs, allowing the company to unlock the car's full potential, for a price. We expect our total average selling price to remain nearly exactly the same. On the lower end of the price hikes is the Model S 100D, which is climbing from $95,000 to $97,500.


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