The Tesla Model S Is Now $5000 Cheaper

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The Tesla Model S Is Now $5000 Cheaper

Just as Tesla (NASDAQ: TSLA) is discontinuing the 60-kilowatt-hour variant of its Model S, which was its cheapest and lowest-range version of the all-electric vehicle, the automaker is significantly lowering the price of the Model S version with a 75 kWh battery.

Not all Tesla's vehicles are seeing price cuts, however.

If you already own a 60- or 70-kWh version of the Model S, and want to upgrade to 75-kWh capacity via an over-the-air upgrade, that option is now less expensive, too.

Model S. Image source: author.

For those owners of an upgradeable 70kWh Model S (that is, the "facelifted" version - previous 70kWh cars did not come with a software-limited battery and thus can not be upgraded), the upgrade from 70 - 75kWh is now just $500, down from $3,500 prior. The 60 kWh base Model S had about 210 miles of range, while the 75 kWh version can drive up to 249 miles. Tesla buyers in Colorado, for example, can take advantage of a generous $5,000 rebate on top of the aforementioned federal income tax credit. Previously, the glass-roof option would cost customers an additional $1,500. With them out of the picture, Tesla's cheapest vehicle is Model S 75 kWh, with a $77,000 price tag.

The company has confirmed that next week it's going to be implementing slight price increases to its higher end 100D and P100D models but it expects the average selling price to remain nearly exactly the same.

Some packaging changes come along with the adjusted pricing.

However, in the meantime, the company is also taking steps to entice drivers for whom the Model S is now only just out of reach.

Meanwhile, the Model S 100D's MPGe ratings stand at 101 MPGe in urban settings, 102 MPGe on highway and 102 MPGe combined total. You'll have to go upscale for those, with the suspension upgrade available starting in the Model S 90D, and the high-amp charger included in the 100D. The base price of Model X 75D is now $82,500.

The company is knocking around 10% off Model S 75 model with a hefty $7,500 discount, making it the cheapest model in the range, now the 60kWh motor has been discontinued.

These changes seem to represent a streamlining of Tesla's offerings before the release of the Model 3.

When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. The Motley Fool has a disclosure policy.

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