Tesla cuts prices and simplifies its product line

Enlarge / A Model 3 at a Tesla showroom on March 1, 2019 in California. (credit: Justin Sullivan/Getty Images)

Tesla implemented across-the-board price cuts for its vehicles on Monday, making most versions of the Model S, Model X, and Model 3 more affordable. At the same time, Tesla eliminated the most affordable versions of the Model S and Model X, called Standard Range, from its product lineup.

The price of the Long Range Model S (now the cheapest Model S) dropped from $85,000 to $79,990. The Standard Range Model S cost $75,000 before it was discontinued.

The price of the high-end Model S Performance model actually increased from $96,000 to $99,990. However, that reflects the fact that “Ludicrous Mode” is now included as a standard feature for the Performance model. Previously, “Ludicrous Mode” was a $20,000 upgrade on top of the Performance model’s $96,000 base price.