During the Q3 2023 earnings call, analysts expressed concerns about Tesla's price cuts and their impact on the company's gross vehicle margins. Tesla reported a gross vehicle margin of 17.9% compared to 25.1% earlier in the year. It remains to be seen how analysts will interpret Tesla's recent price increase for the Model XPlaid in light of these figures.
$TSLA NEWS: Tesla raised the price of Model X Plaid by $5,000.
Tesla has recently raised the price of its Model X Plaid by $5,000, resulting in a new starting price of $94,990 as compared to the previous price of $89,990.
Timing and Delivery Estimates
This price adjustment occurred within the last few days or hours. As of October 15, 2023, the Model X Plaid was still priced at $89,990. Customers who order the Plaid Model X can expect an estimated delivery date between November and December 2023.
Exclusion from Federal Tax Credits
It's important to note that the Model X Plaid does not qualify for federal tax credits under the Inflation Reduction Act (IRA).
Dual-Motor Model X AWD Pricing and Tax Credit Eligibility
The Dual-Motor Tesla Model X AWD, on the other hand, continues to start at $79,990 before options. Additionally, it qualifies for the $7,500 federal tax credit under the IRA until December 31.
Model S Pricing and Recent History
As of now, Tesla has not made any changes to the price of the Dual-Motor Tesla Model S AWD or the Model S Plaid. The Model S AWD is priced at $74,990 before options, while the Plaid version starts at $89,990.
Previous Price Cuts and Delivery Delays
Back in August, Tesla announced price cuts for the Model S and Model X, coinciding with the launch of the new Model 3 Highland in select regions worldwide. Following the price cuts, delivery dates for the Model X were pushed back, indicating a surge in orders for the all-electric flagship SUV.
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