The Tesla The S model is a little cheaper. Tesla CEO and resident meme maker Elon Musk has just tweeted that the Model S sedan will soon be priced at $ 69,420. This pricing was not done on a whim and for a common reason. The price cut is likely a response to Lucid undercutting Tesla on pricing a few hours ago.
As you can see in the tweet above, Elon Musk says, “The glove was thrown off.”
This morning, Lucid announced that its entry-level sedan will cost $ 77,400 minus $ 7,500 in tax credit. As most buyers qualify for the tax credit, the effective price drops to $ 69,900. You see where this is going, right?
With a new starting price of $ 69,420, this would be the second price cut for the Model S this week. Cnet’s Roadshow reported yesterday that the automaker silently withdrew $ 3,000 from the Model S earlier this week, possibly to outperform Lucid ahead of its announcement today. Earlier this year, Tesla cut the starting price of the Model 3 by $ 2,000.
The Lucid Air is emerging as a serious competitor to the Tesla Model 3. The Air has the full range of the Model 3 – even today’s entry-level version is the 400+ range of the Model S. The Air is also lighter, faster, and frankly New. The S model has still had the same shape and feel since it was launched in 2012.
During a recent interview with TechCrunch, Lucid CEO Peter Rawlinson told TechCrunch editor Darrell Etherington that the Air would be available at a price “surprisingly less than $ 80,000”. Although today’s pricing is hardly “surprising”, the Lucid Air is in the same price range as well-equipped mid-size European sports cars and especially the Tesla Model S.