Along With The Halved Ev Tax Credit, Tesla Drops The Prices Of Model S And Model X

While the year 2019 has just begun, Tesla has brought one bad news and one good news to its consumers: First, those who buy electric vehicles will no longer receive the full federal EV tax credit of Rs 5.3 lakh ($7,500) and second, the automobile manufacturer plans to drop the price of its models including S and X in the US market.

Model X

At the beginning of 2019, the EV tax credit in the US will get halved and as a result, Tesla decided to introduce price cuts on Model X and Model S to prevent its consumers from being shocked due to a drastic change in prices. That’s why an announcement from the US manufacturer of electric cars has been given concerning the hot discounts on its models.

The updated federal tax credit has just been Rs 2.6 lakh ($3,750), that means it reduced half price compared to the previous amount. Right after that, Tesla adjusted the prices for its products to bring more chances to the potential customers. Refer to the latest prices Elon Musk’s company offers to all its cars as below:

• Model S 75D is now sold for Rs 53.4 lakh, reducing from Rs 54.9 lakh ($76,000 from $78,000)
• Model S 100D is now sold for Rs 66.1 lakh, reducing from Rs 67.5 lakh ($94,000 from $96,000)
• Model X 75D is now sold for Rs 57.7 lakh, reducing from Rs 59.1 lakh ($82,000 from $84,000)
• Model X 100D is now sold for Rs 68.2 lakh, reducing from Rs 69.6 lakh ($97,000 from $99,000)

As mentioned above, each electric vehicle manufactured by Tesla has offered a discount of $2,000. The biggest EV maker in the US apparently wants to pay compensation to its consumers when they have to pay the additional tax credit of $3,750.

With Tesla’s strategy, the consumers can benefit from the discount when buying an electric car made by this manufacturer. On the contrary, when the financial year came to an end, there would be an adjustment of the previous tax credit.

Model S

Besides that, the US consumers can also gain some incentives from the State, which are related to Tesla’s zero-emission vehicles, or ZEV. The company reportedly spends Rs 2.8 lakh or more ($4,000) on these incentives.

According to the analysis by some experts, Tesla has shown its efforts to maintain or leverage its position both in the US market and the securities exchange.