📺 Stream EntrepreneurTV for Free 📺

Tesla Just Launched Budget Versions of Its Oldest Vehicles — Take a Look at the Differences That Will Save You 5 Figures CEO Elon Musk warned investors last month to expect further vehicle price cuts.

By Amanda Breen

Key Takeaways

  • New versions of Tesla's Model S and Model X vehicles are priced $10,000 below the originals.
  • Differences in driving range and acceleration speed set the budget options apart.
entrepreneur daily

Two of Tesla's oldest vehicle models just got a budget-friendly makeover.

New versions of the Model S sedan and Model X SUV launched Monday for $10,000 less than their original counterparts, per the carmaker's site, CNBC reported.

Related: Six Lessons In Customer Experience You Can Learn From Tesla

The news comes after the company reported a 20% income jump in the second quarter last month to $2.7 billion — but billionaire CEO Elon Musk told investors that more price cuts might be necessary this quarter, per The Wall Street Journal.

The slashed price tags on the Model S and Model X fulfilled that promise — but which adjustments, exactly, can consumers purchasing their vehicles for less expect?

The new Model X Standard Range starts at $88,490 compared to the original Model X's $98,490, and the former boasts a driving range of 255 miles to 269 miles versus the latter's range of 330 miles to 348 miles and marginally faster acceleration speed.

The Model S Standard range begins at $78,490 compared to the original Model S's $88,490. The budget model features a driving range of 298 miles to 320 miles while the older version's range is 375 miles to 405 miles.

Related: Elon Musk's Illusion of Control Undermines Tesla's Future

Tesla Inc is down nearly 24% year over year.

Amanda Breen

Entrepreneur Staff

Senior Features Writer

Amanda Breen is a senior features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

Elon Musk Reveals His Tactics for Building Successful Companies, Including Sleeping Under His Desk and 'Working Every Waking Hour'

Musk shared the secrets on a podcast with Nicolai Tangen, CEO of the $1.6 trillion Norges Bank.

Side Hustle

3 Secrets to Starting a Small Business Side Hustle That Gives Your Day Job a Run for Its Money, According to People Who Did Just That — and Made Millions

Almost anyone can start a side hustle — but only those ready to level up can use it to out-earn their 9-5s.

Business News

Ring Camera Owners Will Receive $5.6 Million in Payments After FTC-Amazon Settlement. Here's How Many Customers Are Eligible — And How They'll Get the Cash.

The payouts are a result of a June 2023 settlement with Amazon over privacy violation allegations against the camera company.

Business News

'My Mouth Dropped': Woman Goes Viral For Sharing Hilarious Cake Decorating Mishap at Walmart

Peyton Chimack has received over 703,000 views on her TikTok post of her birthday cake.

Business News

Jeff Bezos and Amazon Execs Used An Encrypted Messaging App to Talk About 'Sensitive Business Matters,' FTC Alleges

The FTC's filing claims Bezos and other execs used a disappearing message feature even after Amazon knew it was being investigated.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.