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5/22, 1:08 AM (Source: TeleTrader)
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Tesla reduces prices of Models S, X

Tesla Inc. reduced the base price of its Model S and Model X vehicles. The price of the Model S sedan was cut by $3,000 to $71,250 and for the Model X by $2,000 to $71,950.

"Like other car companies, we periodically adjust pricing and available options. These pricing changes represent a reduction of about 2% to 3% in Model X and S prices," Tesla said in a statement, adding that "by any reasonable standard, these small changes are not newsworthy."

The company also said that last week it raised the price of its bestselling Model 3 by $400 to $35,400.

Breaking the News / KP