Tesla Bumps Model S/X Prices by $5,000
Tesla (NASDAQ:TSLA) quietly tagged an extra five grand onto its Model S and Model X lineup in the U.S., flipping its earlier price-cut playbook on its head.
Now the base Model S AWD sits at $84,990 (up from $79,990), and the Plaid pushes into $99,990 territory. Over on the SUV side, a Model X AWD will run you $89,990, while the Plaid X bumps up to $104,990.
You might remember that Tesla had been slashing prices left and right through 2023 and into early '24including a $2,000 trim on these very same modelsbut with rivals like Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN) stepping their game up, and U.S. incentives waning, Elon and co. clearly decided it was time to lean into premium positioning again. The fresh pricing follows a facelift: new interior touches, longer range figures and some slick driver-assist tweaks that, Tesla argues, justify the hike.
Despite the bells and whistles, the market wasn't thrilledTSLA dipped about 2.2% in premarket trading and is still nursing a 21% slump for the year. Analysts reckon if Tesla holds its volume, this move could tack on roughly half a billion dollars in annual revenue, but demand elasticity in a high-rate, competitive EV world is the million-dollar question.
Why It Matters: Juicing prices tells you Tesla believes its upgraded sedans and SUVs can command a premium, but we'll soon see if buyers bite or start shopping elsewhere.
This article first appeared on GuruFocus.
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