Tesla has slashed prices for its Model S electric luxury sedan yet again. A new Model S now costs $4,200 less than it did before. This marks another price reduction mere months after the brand slashed $5,000 from the sedan’s cost of entry earlier this year. That means a Tesla Model S Long Range Plus model now runs $71,990 before applicable tax incentives, and a Model S Performance will cost you $91,990. The upcoming tri-motor Plaid variant—said to have 1,100 hp—is listed at $139,990 (that model’s price doesn’t appear to be discounted in any way, though).
Why the tweaks to the price? Chances are, Tesla is looking to stir up interest in the Model S, the longest-serving model in its current lineup. Buyers are flocking to the less expensive, smaller, and much newer Model 3 sedan and Model Y crossover. Because Tesla has sold so many EVs, the company’s cars are no longer eligible for a federal tax credit in the United States, so it makes sense Tesla feels the need to lower the price tag of the Model S somewhat to compensate.
The big news that joins the price cuts, of course, is that the Model S Long Range Plus now carries an EPA-estimated 402-mile range on a full charge. That makes Tesla the first automaker to achieve over 400 miles of driving range with an EV on the EPA’s test cycle. Of course, upstart competitor Lucid Motors is looking to crush that figure when its Air sedan is finally tested. Our colleagues at MotorTrend have ridden in an Air prototype that traveled 490 miles before natural relief needs (and the day) ended.
For now, however, the Model S can claim top range honors. Opt for the Tesla Model S Performance, and the total driving range drops to “only” 348 miles. The forthcoming Model S Plaid—an even quicker, bonkers performance-tuned Tesla—is listed as having an “estimated” 520-plus miles of range, but that figure has yet to be certified by the EPA. It’ll also rip to 60 mph in under two seconds, compared to the Model S Performance’s claimed 2.3 seconds and the Long Range Plus trim’s leisurely 3.7 seconds.