While Tesla boss Elon Musk was announcing the new $35,000 Model 3 on Thursday, his UK colleagues were quietly realigning its model range with the new prices equating to the massive cuts.
The new range-topping Model S Ludicrous Performance model now starts at £83,300 with its 0-60mph time of 2.4 seconds and a range of 381 miles. That model has effectively replaced the previous range-topping Model S P100D costing £131,305 – a drop of £48,005.
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The longer range £93,205 100D Model S has been replaced by the new £76,000 Long Range car, while the entry-level £74,405 75D has been gone, replaced by the £72,000 Standard Range model.
The two-model Model X SUV line-up has seen similar drops with the £137,705 Model X Performance D replaced with a Ludicrous Performance model costing £87,200.
While this is great news for potential new Tesla buyers, recent buyers have taken to Tesla forums to express their anger that the sudden drop in value of their cars, with one new owner saying he was furious with the unexpected huge price cut. Another used more strident language, while bemoaning an instant £25,000 drop in value of their car.
Similarly, independent dealers with high-spec Teslas have seen thousands wiped from the value of their stock, while Tesla seems to be taking time to realign the prices of its own used inventory. At the time of writing, only three used Model S cars were available on Tesla’s website, all well under the price of the current cheapest Model S.
Buyers who recently bought their Teslas through the brand’s PCP scheme will be protected from the drop in value of their cars, although they’re unlikely to see any equity left in the vehicles at the end of their terms.
What do you think of Tesla's move to cut prices by nearly £50k? Have your say below...
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