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Image credit: Joel Stocksdale/Oath

Tesla lowers the Model X's price now that it's more profitable

The electric SUV isn't suddenly a bargain, but it is a better deal.
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Joel Stocksdale/Oath

Tesla might have ditched the Model X's relatively affordable 60D trim, but that doesn't mean it's insensitive to your price concerns. Elon Musk's outfit has lopped $3,000 off the price of the base 75D model, bringing the entry point down to 'just' $79,500 before tax credits -- right around where it was when the electric SUV launched nearly two years ago. As for why? Simple economics, Tesla says in a statement. When the Model X 75D launched, it had a low profit margin --"efficiencies" have let Tesla reduce the price without taking a hit to its bottom line.

The move probably won't lead to a giant surge in sales for a luxury machine like the Model X, but it could help keep the existing sales momentum going at a time when Model 3 sales are still too new to represent a significant factor. If you can afford the Model X but found the premium over a Model S a little too hard to swallow, you might be tempted to take a second look. The gap between the 75D variants of both EVs is down to $5,000, which might be justifiable if you have kids and cargo to haul.

Via: Reuters
Source: Tesla
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