Tesla, in the latest of a series of price breaks it started after the new year, has introduced less expensive versions of its models X sports-utility vehicle and S sedan.
The models are $10,000 under the originals’ sticker prices in the U.S., starting at $88,490 and $98,490, respectively, according to news reports.
A key difference is that the new versions get you approximately 75 to 85 fewer miles of range between charges, depending on the model. The X has a little faster acceleration speed.
The EV-only maker has sacrificed margins for sales volume, cutting prices on its lineup as the industry faces the pressures of inflation and the high interest rates intended to dampen it. The reductions have moved some other automakers to follow suit as brands jockey to grab share of a growing electric-vehicle market, which is still led in the U.S. by Tesla.
The Texas-based automaker is facing increasing competition from legacy automakers that are filling out their EV lineups with more and more models.