Tesla Model S 75 had a price drop of 69,500.
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Tesla Model S 75 is the cheapest car that the company is offering right now. The car just had a price drop of $69,500 to reflect the value of its product and preference of the customers.
Because of this, Tesla has to downgrade some of its features. The smart air suspension cannot be added to the car but is still available in other models.
The high amperage charger will be unavailable on other battery sizes but will be included in the 100kWh models. This charger allows faster charging when connected to the Tesla wall connector and connected to a circuit that can give 72 amps.
Aside from that, the company also lowered the prices of its upgrades. The cost of upgrading a 60kWh Model S Battery to a 75kWh is lowered to $2,000.
There are also a few tweaked optional features like the Glass Roof and Power lift-gate. The Tesla Model S 75 and 90 series will not have an adjustable air suspension.
Just recently, Tesla released a statement stating the reason for their price drop. In the statement, the company explained that they had price adjustment to reflect their product value and customer needs.
"Today's updates include slight price decreases to our 75, 75D and 90D models to account for the discontinuation of our 60 kWh models, and next week we will be implementing slight price increases to our higher end 100D and P100D models," Tesla explained in a statement. "We expect our total average selling price to remain almost exactly the same."
The company explained that prices for 9OD models and 75D models will also be decreased. While prices for 100D and P100D models will be lowered on April 24.
However, Tesla is still not convinced that changing the price of its Tesla Model S 75 will give them more revenues. The company believes that its total average selling price will probably remain the same.