Tesla has slashed the prices of the Model S and Model X by as much as $18,000

Bryan Logan/Business InsiderTesla Model S.

All three of Tesla’s vehicles got a price cut on Thursday.

Tesla also said on Thursday that it may not be profitable in the first quarter and that it was shifting to online-only sales and closing most of its 378 retail stores.

“Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $US35,000 Model 3 price point earlier than we expected,” the company said in a blog post.


Read more:
Tesla is finally releasing the long-awaited $US35,000 Model 3

Shares fell about 4% overnight into Friday morning as Wall Street investors digested the new outlook for Tesla’s finances.

Tesla said the Model 3 would now start at $US35,000. Here are the details of the Model S and Model X price cuts:

Model S:

  • Standard Range: unchanged, at $US79,000 before incentives like state-specific tax rebates and gas savings.
  • Long Range: now $US83,000 before incentives (previously $US96,000).
  • Performance: now $US99,000 before incentives (previously $US112,000).
  • Ludicrous Mode: now $US114,000 before incentives (previously $US132,000).

Model X:

  • Long Range: now $US88,000 before incentives (previously $US96,000).
  • Performance: now $US104,000 before incentives (previously $US117,000).
  • Ludicrous Mode: now $US119,000 before incentives (previously $US137,000).

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