Tesla slashes EV prices by up to $5,000 in North America and China

Tesla has quietly reduced its electric vehicles’ prices by thousands of dollars in North America and will also do the same in China, according to Reuters and Electrek. As the publications note, the automaker has cut prices across its lineup following an industry-wide decline in sales and demand caused by the coronavirus pandemic. Tesla has given its more expensive models, the Model S and the Model X, the biggest price cut, slashing $5,000 off their old purchase price.

The Model S Long Range Plus EV is now listed for $74,990 from $79,990, while the Performance version now costs $94,990. Meanwhile, the Long Range Plus version of Model X is now listed for $79,990, which is also $5,000 less than before. The Model 3 got a more modest $2,000 discount, bringing its purchase price down to $37,990 from $39,990. Tesla’s Model Y prices, however, remain unchanged.

Reuters says Tesla will cut Model S and Model X prices in China by around 4 percent, but it will not reduce the prices of its China-made Model 3 EVs. Unfortunately, Tesla announced some bad news, as well: its Model S sedans and Model X SUVs will no longer come with free access to its Supercharger service.

Tesla, like most companies worldwide, had to suspend production due to coronavirus-related lockdowns. Company chief Elon Musk, however, chose to defy Alameda County’s lockdown a few weeks ago to restart production at Tesla’s Fremont factory.