Tesla drops cheapest variants, pushing up prices in China

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Reuters – The automaker said it expected production and deliveries to continue growing in Q3

BEIJING: Tesla Inc. has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the US electric vehicle maker reported record deliveries.
To simplify its offerings, the automaker on Tuesday limited variants of its Model X sport-utility vehicle and Model S sedan to “Long Range” and the more expensive “Performance.” It also trimmed the price of its now entry-level Long Range variants.
The discontinuation of the standard-range variants, however, means a rise in starting prices — to $84,990 for the Model X and $79,990 for the Model S, excluding potential buying incentives. Tesla also lowered the starting price of its mass-market Model 3 to $38,990.
“To make purchasing our vehicles even simpler, we are standardizing our global vehicle lineup and streamlining the number of trim packages offered for Model S, Model X and Model 3,” Tesla said. “We are also adjusting our pricing to continue to improve affordability for customers.”

HIGHLIGHTS

• Drops standard-range variants of Model X and S.

• Move means entry X, S cars are pricier long-range variants.

• Tesla delivered record number of EVs in the second quarter.

• Tesla is building a plant in China initially for Model 3 cars.

Earlier this month, Tesla said global deliveries of its three models in the second quarter of this year rose 51 percent from the previous quarter to a record 95,200 vehicles. The Model 3 accounted for about 80 percent of the total, underscoring the vehicle’s role as the linchpin of Tesla’s growth strategy. The automaker said it expected production and deliveries to continue growing in Q3.
In China, the world’s largest market for electric vehicles, Tesla’s changes on Tuesday pushed the starting price of its Model X to 790,900 yuan ($115,068) and Model S to 776,900 yuan.

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