Get All Access for $5/mo

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 Edited by Jessica Thomas

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.

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

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Living

Taylor Swift Has a Lucky Number. And She's Not the Only High Performer Who Leans Into Superstitions to Boost Confidence.

Even megastars like Swift need a little extra something to get them in the right mindset when it is game time.

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.

Marketing

SEO Trends You Need to Be Aware of Right Now, According to a Seasoned Pro

Navigate the future of search engine optimization to elevate your online presence and drive meaningful engagement.