Tesla, Inc. (TSLA) increased the prices of its flagship luxury sedan Model S and luxury electric SUV Model X in the United States and Canada yesterday.
This move by the automaker came as a surprise at a time when reportedly Model S and Model X sales are already declining. Tesla delivered only 17,027 Model S, X, and Cybertruck vehicles in Q1 combined. This number grew to 21,511 in Q2 but it might be due to the surge in Cybertruck deliveries.
Tesla increased the price of all the Model S and Model X trims by $2,000 in the US (new prices below). Interestingly, Tesla dropped the Model S/X price by $2K in April, looks like the electric automaker reversed this decision after a few months.
However, in Canada, the price hike was not as uniform as in the neighboring country. Tesla increased the Model S AWD price by CA$6,000 and the Plaid variant by CA$2,000 in Canada. Tesla Model X received a price increase of CA$3,000 for both variants.
New Tesla Model S Prices (US)
- Tesla Model S AWD: $74,990 (previous: $72,990)
- Tesla Model S Plaid: $89,990 (previous: $87,990)
New Tesla Model S Prices (Canada)
- Tesla Model S AWD: CA$103,990 (previous: CA$97,990)
- Tesla Model S Plaid: CA$124,990 (previous: CA$122,990)
New Tesla Model X Prices (US)
- Tesla Model X AWD = $79,990 (previous: $77,990)
- Tesla Model X Plaid Tri-Motor AWD = $94,990 (previous: $92,990)
Tesla kept the new Model X AWD price just below the $80K Federal Tax Credit cap to keep it eligible for the full $7,500 incentive. The $2,000 increase does not disqualify the Tesla Model X AWD from the Federal Tax Credit (see eligibility requirements on Tesla’s official website).
New Tesla Model X Prices (Canada)
- Tesla Model X AWD: CA$110,990 (previous: CA$107,990)
- Tesla Model X Plaid: CA$131,990 (previous: CA$128,990)
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