Tesla has recently adjusted the Model X Price, increasing the cost of its all-electric SUV by $5,000. This price adjustment impacts both the Long Range and Plaid versions of the Model X, pushing the starting price of the Long Range variant to $84,990 and the Plaid version to $99,990.
This price hike means the Tesla Model X now exceeds the $80,000 price cap for electric SUVs, making it ineligible for the $7,500 Federal EV tax credit. This change could significantly influence the overall cost for potential buyers in the United States, as the tax credit was a substantial incentive for many considering electric vehicle purchases.
Tesla Model X Price Increase Disqualification for Tax Credit
However, in conjunction with this price increase, Tesla has reintroduced several incentives to potentially offset the higher model x price and the loss of the tax credit. These incentives are designed to maintain the attractiveness of the Model X in a competitive electric vehicle market.
One notable incentive is the return of “free Supercharging for life” for new Model X purchases. This perk, which Tesla had previously discontinued due to sustainability concerns voiced by CEO Elon Musk himself, is now back for Model X and Model S orders in the US, Canada, Puerto Rico, Europe, and the Middle East. Initially, free Supercharging was tied to the vehicle, but now it is linked to the Tesla account of the original purchaser, meaning it is not transferable upon resale. Furthermore, this incentive is not applicable to vehicles used for commercial purposes like taxis or rideshare services.
In addition to free Supercharging, Tesla is also offering a $1,000 discount through referral codes and, in some cases, providing a free option when customers purchase the Full Self-Driving (FSD) package. These incentives, combined with the free Supercharging, aim to soften the blow of the increased model x price and maintain demand.
Tesla 2024 Model X Prices and Incentives
The decision to increase the model x price while simultaneously reintroducing incentives suggests a strategic move by Tesla to balance profitability with market competitiveness. The fluctuating nature of incentives, particularly the return of free Supercharging after being deemed unsustainable, highlights the dynamic pricing strategies Tesla employs in response to market conditions and sales targets. Potential buyers should carefully weigh the increased base price against the value of the offered incentives to determine the overall cost-effectiveness of purchasing a Model X.
