- Tesla has again issued significant markdowns, this time cutting prices of the 2023 Model S and ’23 Model X by about $5000 and $10,000, respectively.
- The Model X now starts at $101,380, and the Model S starts at $91,380; Plaid versions of each now start at $111,380.
- Earlier this year, Tesla slashed U.S. prices for the Model Y SUV—the Model S and X received markdowns too.
If yesterday you bought either a Tesla Model S or Model X at full price, you might not be too happy to read this: Tesla has once again introduced significant price cuts. The latest move sees the starting prices of the 2023 Model S and ’23 Model X drop by roughly $5000 and $10,000, respectively.
Model S and X Markdowns
The Model S now starts at $91,380—down from $96,630. The Model X now starts at $101,380—down from $111,630. The high-performance Plaid versions of each now start at $111,380. Previously, they started at $116,630 (Model S) and $121,630 (Model X).
That brings the price of the Model S down by around 4 percent; the Model X’s price is down by about 9 percent. Even with the most recent price cuts, the Model S and Model X are Tesla’s two most expensive vehicles by a considerable margin.
This marks the second time this year Tesla has implemented large markdowns for its most expensive models, with both the Model S and Model X having their prices dropped by roughly $10,000 in January.
Frequent Price Fluctuations
The latest price changes also represent Tesla’s fifth adjustment since the start of the year, as reported by Reuters. The largest reduction came in January when the company reduced the price of the Model Y SUV by $13,000 in order to bring it below the $55,000 maximum price allowed under the Inflation Reduction Act (IRA), helping it qualify for the federal tax credit.
The constant price changes and updates are enough to confuse even the most clued-in customers. Earlier this year, when surprise price cuts hit China, customers who recently purchased a new Tesla were angered by the devaluation of their vehicles. Hundreds of protesters gathered at Tesla stores and chanted, “Return the money, refund our cars,” in a video that was also reported by Reuters.
There are currently no reports of Tesla offering refunds following the January price cuts. That suggests it’s unlikely Tesla will offer any for owners who recently purchased either vehicle affected by the latest markdowns.
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Associate News Editor
Jack Fitzgerald’s love for cars stems from his as yet unshakable addiction to Formula 1.
After a brief stint as a detailer for a local dealership group in college, he knew he needed a more permanent way to drive all the new cars he couldn’t afford and decided to pursue a career in auto writing. By hounding his college professors at the University of Wisconsin-Milwaukee, he was able to travel Wisconsin seeking out stories in the auto world before landing his dream job at Car and Driver. His new goal is to delay the inevitable demise of his 2010 Volkswagen Golf.
