Tesla Drops Price of Model S by $3,000, Now Starts at $71,990

Tesla has dropped the price of its Model S sedan tonight by $3,000 USD for its Long Range Plus and Performance versions. The new prices are as follows:

• Model S Long Range Plus – $71,990 USD (was $74,990 USD)
• Model S Performance – $91,990 USD (was $94,990 USD)

In Canada, Model S now starts at $101,990 CAD and $124,990 CAD, respectively for the versions above.

The price drop most likely is a move to encourage more sales of the Model S. A previously leaked email written by Tesla CEO Elon Musk told employees it might be possible to hit 500,000 vehicles produced in a single year, for the first time, based on a strong Q4.

Recently the Plaid version of Model S debuted at Battery Day and is pegged to be one of the fastest automobiles in the world when it debuts in late 2021.