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Tesla has lowered the base price of the Model X to $79,500, a $3,000 savings over the previous price.
The company pointed to greater production efficiency and better margins. “When we launched Model X 75D, it had a low gross margin. As we’ve achieved efficiencies, we are able to lower the price and pass along more value to our customers,” Tesla said in a statement.
The Model X is now $5,000 more than a similarly equipped Model S sedan. The Model S 75D starts at $74,500, while the Model X 75D now starts at $79,500 with the standard 5-seat configuration after a $3,000 price cut.
The $145,000 Model X P100D is priciest version, but it’s also the fastest and has the longest range. The Model X has now reached production parity with Model S in the company’s Fremont factory, Musk said at the Model 3 handover party last week. The company is churning out about 2,000 vehicles per week at the facility.