Tesla has recently updated its pricing for the Model X, increasing the cost by $5,000 across its configurations. This price adjustment impacts the Long Range and Plaid versions of the electric SUV. Concurrently, Tesla has reintroduced appealing incentives, including the return of free Supercharging, to potentially offset the higher price point and maintain its market appeal.
The updated pricing structure reflects a $5,000 increase for both variants of the Model X. The Long Range version now starts at $84,990, while the high-performance Plaid version is priced at $99,990.
Tesla Model X Price Increase 2024
This price hike means the Tesla Model X, in its current configuration, no longer qualifies for the $7,500 Federal EV tax credit in the United States. The eligibility for this credit is capped at an MSRP of $80,000 for electric SUVs, placing the Model X above this threshold.
To mitigate the impact of the price increase and continue to attract buyers, Tesla has rolled out a suite of incentives. These include the reintroduction of “free Supercharging for life” for new Model X purchases, a perk that was previously discontinued due to concerns about its long-term sustainability.
Tesla Model X new pricing and incentives screenshot February 2024
In addition to free Supercharging, Tesla continues to offer a $1,000 price reduction through referral codes. Furthermore, buyers who opt for the Full Self-Driving (FSD) package may receive an additional undisclosed incentive, adding further value to the purchase.
The return of free Supercharging is particularly noteworthy. Previously deemed unsustainable by Tesla CEO Elon Musk, who stated in 2020 that it was “not coming back to any [Tesla] vehicles,” this incentive has been revived for the Model X and Model S. Initially brought back as a limited “end-of-year incentive” the previous year for certain models, it now appears to be a more broadly available offering for Model X and S purchases made in the US, Canada, Puerto Rico, Europe, and the Middle East.
A significant change to the free Supercharging program is that it is now linked to the Tesla account of the original purchaser rather than the vehicle itself. This means the free Supercharging benefit is not transferable upon resale of the Model X. Tesla has also clarified that this incentive is not applicable to vehicles used for commercial purposes, such as taxis, rideshare vehicles, or delivery services, and excludes used vehicle purchases and business orders.
While Tesla has stated similar restrictions in the past, the enforceability of these terms remains to be seen in practice. The combination of a price increase offset by potentially valuable incentives like free Supercharging and other offers presents a complex value proposition for prospective Tesla Model X buyers in 2024.
