There is some important news over in Tesla North America. It seems that Tesla has decided to bring down the prices of Model X and Model S down by $5,000 each. This is specifically applied to the Long Range Plus version of each as well as their Performance level vehicles.
It’s also important to add that the Model 3 has also seen a small decrease in price of $2000. This applies to all versions of their Model 3 vehicles. The price range for their newest upcoming Model Y hasn’t changed.
There have also been sources that have speculated the price of these models will also be reduced in their vehicles sold in China. This will not include their model 3’s as they are produced in China.
The exact reason for the price drop isn’t specifically known but there have been rumors circling around giving different possible reasons. The first is a simple attempt to push up demand for their cars after the significant halt in sales due to the coronavirus.
It seems that Tesla, much like most companies are not immune to the destructive effect of the coronavirus.
Reports of auto sales in April of 2020 in comparison April last year saw the sales of the auto industry cut in half. In times like these, people prioritize absolute necessities instead of going out looking for a new car to purchase.
Other large vehicle conglomerates are offering things such as 0% financing and improved payment options for their potential buyers.
We hope the effect of the coronavirus slows down and allows businesses to continue to flourish, especially Tesla ;).
Here's some more info on the subject: