Tesla drops price of Model S by as much as $6,000 [Update]

Model S and X Supercharging

Tesla has reduced the prices of their flagship sedan tonight by as much as $6,000 in Canada.

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Up to now, the Model S Long Range Plus (LR+) started at $105,990 CAD, while the Performance variant started at $130,990 CAD. With tonight’s price drop the LR+ is now $4,000 less at $101,990 CAD. The Performance Model S has been lowered even more by $6,000 to $124,990 CAD.

The new Plaid Model S has not seen a price change.

Model S new CAD

In the US, the LR+ and Performance Model S have been reduced by the same amount.  Both are now $3,000 less at $71,990 and $91,990 respectively.

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All variants of the Model X, Model 3 and the Model Y have so far seen no price changes.

The price changes are significant, especially when you consider where they were after a price increase earlier this year. If you had purchased the LR+ Model S in April, you would have had to fork out $11,000 CAD more with a starting price of $112,990. The Performance Model S was $13,000 CAD more expensive at $137,990.

Much like all the price changes before, these were made quietly late at night without an official announcement from the automaker. Even without an announcement they should come as no surprise as they are known to pass manufacturing savings down to the consumer.

The changes also could have been made to ensure Tesla is able to reach their annual guidance of 500,000 sales in 2020.

This is a developing story, check back for updates…

UPDATE #1: Added US price changes, and removed price change for Model X

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Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca