Tesla Cuts Prices on Model S
Driving Sales to Reach 500,000 Vehicle Sales Target
Source: Tesla Model S
Model S in US and China
Days after reporting a record quarter for car sales, Tesla is now cutting the price of the long range, Model S by 4%. That brings the price of the electric sedan down to $71,990 from $74,990 in the US. Tesla also trimmed the price of the Model S by 3% in China. Earlier this month, Tesla cut the starting price of China-made Model 3 sedans by 8% to $36,805.
Elon Musk's Targets for Tesla
At a recent annual Shareholders' Meeting, Musk forecasted that Tesla's 2020 deliveries will increase between 30 and 40%. That equals 477,250 to 514,500 vehicles delivered in the year 2020. Cutting the price on top vehicles is designed to increase sales. Musk wants Tesla to have eventual production of 20 million vehicles a year, which would make Tesla the world's largest automaker.