Following the discontinuation of the cheapest Tesla model, the Model S 60, the electric car maker has now reduced the price of the Model S 75. The new base version of the Model S will now cost $69,500 down from $74,500. This now makes the Model S 75 the most affordable car in Tesla’s line up and just $1,500 pricier than what the Model S 60 was retailing at before it was discontinued.
With the S 75, drivers get a range of 249 miles as estimated by the Environmental Protection Agency. The S 75 accelerates from 0 to 60 miles per hour in 5.5 seconds.
Customers of the base version of the Model S can also get extra options by adding more money. For instance, they can get an all-wheel version of the Model S 75 by adding $5,000. With this version the range is extended by another 10 miles. It also reduces the acceleration time from zero to 60 miles by 0.3 seconds. After the discontinuation of the Model S 60, the Model S 75 is the only Model S that comes with a rear-wheel drive option.
But even as Tesla lowered the prices, more options have been thrown into the bargain. A rear power liftgate that is automatic and a glass roof are now standard with the Model S 75. However, smart air suspension is no longer a feature of the car.
Accompanying the reduction in the car prices was a cut in the costs of battery upgrades. The cost of upgrading the 60 kWh battery to a 75kWh battery has come down to $2,000 after falling from $9,000. The 70 kWh models can also upgrade to a 75 kWh battery at a price of $500. Previously, it used to cost owners $3,500 to finance the upgrade.
Another Model S car whose price has been reduced is the S 90D. The old price was $89,500 but it now costs $87,500. This model still has a range of 294 miles and accelerates to 60 miles in a time of 4.2 seconds.
However, prices of the high end versions of the Tesla Model S will be increased. This includes the Model S 100D which will now cost $97,500 up from $95,000. The Model S P110D will now cost $140,000 up from $134,500. Tesla has maintained that the price changes will not affect the price margins.
“We expect our total average selling price to remain almost exactly the same,” a statement from Tesla said.