Tesla (TSLA.O) has introduced new standard-range Model S and Model X cars in the United States, priced lower than the other versions of the S and X models, as shown on the automaker’s website on Monday.
Prices of Model S and X Cars
The new S and X models are priced at $78,490 and $88,490, respectively, according to the website.
Earlier in the day, the company reduced prices in China for its Model Y long-range and performance versions starting on August 14, causing shares to drop due to concerns about further pressure on its profit margins.
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Tesla has slashed prices several times in the US, China, and other markets since late last year and has offered other incentives to reduce inventory, aiming to shield itself against competition and economic uncertainty.
The company delivered 19,225 Model X and S vehicles in the second quarter, compared to the 16,162 vehicles it delivered last year.