2023 Tesla Model S and Model X Receive Significant Price Cuts

2021 tesla model s plaid
Tesla Model S and X Get Significant Price CutsMarc Urbano - Car and Driver
  • Tesla has again issued significant markdowns, this time cutting prices of the 2023 Model S and '23 Model X by $5000 and $10,000, respectively.

  • The Model X now starts at $101,380, and the Model S starts at $91,380; Plaid versions of each now start at $111,380.

  • Earlier this year, Tesla slashed prices for the Model 3 sedan and Model Y SUV.

If yesterday you bought either a Tesla Model S or Model X at full price, you might not be too happy to read this: Tesla has once again introduced significant price cuts. The latest move sees the starting prices of the 2023 Model S and '23 Model X drop by roughly $5000 and $10,000, respectively.

Model S and X Markdowns

The Model S now starts at $91,380—down from $96,630. The Model X now starts at $101,380—down from $111,630. The high-performance Plaid versions of each now start at $111,380. Previously, they started at $116,630 (Model S) and $121,630 (Model X).

That brings the price of the Model S down by around 4 percent; the Model X's price is down by about 9 percent. Even with the most recent price cuts, the Model S and Model X are Tesla's two most expensive vehicles by a considerable margin.

This marks the second time this year Tesla has implemented large markdowns for its most expensive models, with both the Model S and Model X having their prices dropped by roughly $10,000 in January.

Frequent Price Fluctuations

The latest price changes also represent Tesla's fifth adjustment since the start of the year, as reported by Reuters. The largest reduction came in January when the company reduced the price of the Model Y by $13,000 in order to bring it below the $55,000 maximum price allowed under the Inflation Reduction Act (IRA), helping it qualify for the federal tax credit.

The constant price changes and updates are enough to confuse even the most clued-in customers. Earlier this year, when surprise price cuts hit China, customers who recently purchased a new Tesla were angered by the devaluation of their vehicles. Hundreds of protesters gathered at Tesla stores and chanted "Return the money, refund our cars." in a video that was also reported by Reuters.

There are currently no reports of Tesla offering refunds following the January price cuts. That suggests it's unlikely Tesla will offer any for owners who recently purchased either vehicle affected by the latest markdowns.

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