Base Tesla Model S Just Got $7,500 Cheaper

The Tesla Model S is one of the most expensive electric cars in the business, at least in the mass consumer sense. In a bid to court the more frugal customers, the company decided to offer a much cheaper base model, but it was still at the $75,000 range. This changed recently when Tesla decided to slash as much as $7,500 from its price, making it much more affordable.

This latest price change makes the base Model S the cheapest vehicles that Tesla is offering, which is a little hard to swallow for most people since it still costs $69,500, The Verge reports. The markdown applies to the 60 and the 60D versions of the base models. Model X units are getting discounts as well, though, not as much as the S.

On the features front, the optional additions for the vehicles, including the high-speed charger and the power liftgate will be available to customers as a standard package from now on. The same goes for the coveted Glass Roof.

In contrast, the higher-end Model S 100D and P100D are seeing an increase in their prices. Tesla is adding $5,000 to the 100D while the P100D is getting a price increase of $1,000. Due to the changes in pricing, some might think that this will impact the company’s profits, but Tesla is confident that it won’t. In a statement, the company says that they expect the revenue to be in line with their projections.

As for why Tesla decided to make these price cuts to its lower end units while making its more expensive models even more costly, it has a lot to do with the upcoming Model 3 launch. As BGR notes, people are less and less interested in buying the base models when a much cheaper option that offers better features is about to become available.