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Tesla Cuts Prices Again as It Seeks to Lure New Buyers

Tesla released cheaper versions of its most expensive U.S. vehicles, the Model S and Model X, that cost $10,000 less and drive fewer miles per charge, according to the company’s website.

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The electric-vehicle maker rolled out what it called standard-range vehicles on its website this week, costing $78,490 for a Model S and $88,490 for a Model X.

The standard-range Model S luxury sedan can drive roughly 320 miles on one charge, compared with 405 miles for the regular version, according to Tesla’s website.

The lower-range Model X SUV has a range of about 269 miles on one charge, less than the 348-mile range on the regular version.

Tesla has cut prices for its U.S. vehicles multiple times this year in a bid to stoke demand in a competitive market. Chief Executive Elon Musk suggested the January price drops fueled buyer interest. Some of the price cuts ensured its models cost less than the threshold to qualify for a federal tax credit.

Tesla also made price adjustments in China this week.

The EV seller dropped prices by up to 4.5% for two versions of its Model Y car and is offering an insurance subsidiary on some of its new Model 3 vehicles.


Image: Tesla.inc