Tesla Reduces Starting Price of Its Model X SUV
July 13 2016 - 11:10AM
Dow Jones News
Tesla Motors Inc. lowered the starting price of its Model X
sport-utility vehicle to $75,200, offering a more limited range
version called the 60D, as the company tries to capture buyers
priced out of the higher-end models.
The number indicates the storage capacity of the battery pack.
In this case, it is 60 kilowatt-hours, giving it 200 miles of
range. Previously, the least expensive Model X was the 75D, which
cost $84,200. The most expensive Model X is geared for speed and
has a 90 kwh pack and 250 miles of range and starts at $116,700,
including delivery fees.
Tesla a few weeks ago lowered the starting price of its sedan,
the Model S, to $67,200, roughly $5,000 less than the previously
least-expensive model, also offering a 60 kwh battery.
At the time, Tesla said it was hoping to offer customers who
were interested in buying the forthcoming Model 3 sedan, expected
to start at $35,000, a less expensive model that could allow them
to buy a car immediately. This came after people placed nearly
400,000 reservations for the car, due out in the second half of
next year.
Tesla's price cut comes as the company is trying to get a surge
of sales in the second half of the year to reach a goal of at least
80,000 sales. First half sales fell short of 30,000 after a
disappointing second quarter where deliveries were 15% lower than
the company had projected.
Tesla has struggled with ramping up production on the Model X,
which made its debut in the fall of 2015. Tesla had expected the
new SUV to sell in equal numbers to its sedan, the Model S, but so
far deliveries of the vehicle have been less than half that of the
car.
Write to Mike Ramsey at michael.ramsey@wsj.com
(END) Dow Jones Newswires
July 13, 2016 10:55 ET (14:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Tesla (NASDAQ:TSLA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tesla (NASDAQ:TSLA)
Historical Stock Chart
From Apr 2023 to Apr 2024