Tesla’s new Model S and Model X just became a lot more competitive

Even with their previous prices, the Tesla Model S and Model X are already formidable in their respective segments. But with their recently adjusted costs, Tesla’s two flagship electric vehicles just became a lot more competitive.

Following a recent round of price adjustments, the Tesla Model S and Model X are now more affordable. The flagship all-electric sedan now starts at $94,990 for its Dual Motor AWD variant. Previously, the vehicle started at $104,990. The Model S Plaid, on the other hand, now starts $114,990, a notable drop from its previous price of $135,990.

The same is true of the Model X, which now starts at $109,990 for its Dual Motor AWD version. Previously, the Model X variant cost $120,990. The top-tier model X Plaid’s price has also been reduced to $119,990, significantly lower than its previous price of $138,990.

It should be noted that even with their previous prices, the Model S and Model X still sold a fair amount last year. As per Tesla’s Q4 and FY 2022 vehicle delivery and production report, the company was able to deliver a total of 66,705 Model S and Model X in 2022. Production for the vehicles over the year reached 71,177 units as well.

Granted, the Model S and Model X’s sales last year pale in comparison to the numbers of the Model 3 sedan and Model Y crossover. However, the Model S and Model X actually performed pretty well compared to their direct competitors. The Lucid Air, which beats the Model S in range, posted full-year deliveries of 4,369 units. The same is relatively true for the Model X, as Rivian, whose R1S could be considered a rival of the flagship Tesla SUV, delivered 20,332 vehicles on a full-year basis.

Overall, with their lower entry price, the Model S and Model X could very well see a resurgence in interest. After all, the two flagship EVs offer a great balance of performance, range, and tech — at a reasonable price.