Tesla lowers price of Model X, saying margins improved
SAN FRANCISCO (Reuters) - Tesla Inc on Friday lowered the base price of its Model X SUV to $79,500 and said improving margins were behind the move, which came as the automaker is ramping up production of its new lower-priced Model 3.
Some analysts have been concerned that the launch of the Model 3, whose base price is $35,000, would steer some potential buyers away from the Model X SUV to that lower-priced sedan.
But Chief Executive Elon Musk said earlier this week that demand had not waned for the luxury electric sport-utility vehicle.
"When we launched Model X 75D, it had a low gross margin. As we've achieved efficiencies, we are able to lower the price and pass along more value to our customers," Tesla in a statement on Friday announcing it had lowered the previous $82,500 starting price of the vehicle by $3,000.
The most expensive version of the Model X, the P100D, with fastest acceleration and longer range, costs $145,000.
Musk said on a call with analysts earlier this week that the launch of the Model 3 had not cannibalized Model X sales, and that demand for the Model X as well as the Model S had actually increased with the release of the lower-priced vehicle.
The Model 3, marketed as a car for the masses, begins at $35,000 before incentives, but a longer-range version is priced at $44,000, to compete with high volume luxury sedans such as the Audi A4, BMW 3-series or Mercedes C-Class.
Tesla does not break out gross margins of its individual models, but overall gross margins excluding stock-based compensation and revenue from zero-emission vehicle credits fell to 25 percent in the second quarter from 26.4 percent a year earlier, due to the Model 3 build.
This text is moved
Nice
Congratulations @mo7ammad108! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
You published your First Post
You got a First Vote
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP
عاش
تم التعليق و الفولو و الأب فوت
تمت المتابعة والتصويت
https://steemit.com/hair/@asmaasema/how-to-make-a-deep-conditioning-coconut-oil-hair-mask-save
حاول تنزل بوستات كتير
إنت عندك واحد بس
https://steemit.com/steemit/@halal01/steemit
تم
wonderful news
تم