Tesla Again Cutting Price Model S, says Kasturi

Only in other days Tesla (Nasdaq: TSLA) It is reducing the price of its Model Dell S sedan. That’s according to the company’s color CEO, Elon Musk, who announced this in a tweet on Wednesday afternoon, reading in full:

The gauntlet has been thrown down! The prophecy will be fulfilled. Model S prices change to $ 69,420 tonight.

Musk’s rivalry is mentioned with Lucid Motors, a privately held rival, whose CEO and CTO is one-time Tesla executive Peter Rawlinson. Earlier Wednesday, Lucid announced that the starting price of its next Lucid air sedan, which would be 69 69,900, would be exempt once the federal tax.

A Tesla Model S on the road.

Image source: Tesla

Coincidentally, Rawlinson’s position at Tesla, according to his LinkedIn page, was vice president and chief engineer for the Model S.

Musk’s announcement is the second time this week that the Model S’s sticker price has been slashed. It was first cut from $ 74,990 to $ 71,990.

Lucid Air has not yet commented on Musk’s announcement or issued a formal statement.

The Model S is one of the best installed electric vehicles (EVs) on the market. It first came out of the Tesla factories in 2012. Yet its position as a premium car limits its potential customer base – for example, the company delivered 15,200 Model S and its equivalent premium Model X SUV. By comparison, the more budget-expensive Model 3 sedan and Model Y SUV are combined for 124,100 deliveries.

Very few investors are happy with the price reduction. On Thursday, they seemed to indicate their displeasure with Tesla’s latest one[s], Bidding the stock below 2.7% on the day.