Tesla Cuts Model S and X Prices for Third Time This Year

Tesla Inc. cut the prices of its Model S and X for the third time this year late Thursday.

(Bloomberg) — Tesla Inc. cut the prices of its Model S and X for the third time this year late Thursday.

Chief Executive Officer Elon Musk has vowed to chase volume over profit margins. The flagship Model S sedan now starts at $84,990, a $5,000 cut from the price last month.

The Model X now starts at $94,990, also a $5,000 cut.

Tesla Lets Old Age Get the Best of Its Most Expensive Models

Tesla, which sells its cars directly to consumers, has said that small changes in price have a big effect on demand. The company delivered 422,875 vehicles globally in the first quarter, but just 10,695 of those were the S and X.

More stories like this are available on bloomberg.com