Elon Musk announced a new price cut on the Tesla Model S, though the “ink” didn’t dry out from Tesla’s previous announcement. So the CEO of Telsa an hour ago mentioned on Twitter that the price of the Model S is falling further. He has now broken the $70k barrier and as said “Model S price changes to $69,420 tonight!”
It wasn’t until a day ago that Tesla had lowered the price of the Model S to $71,990, or $3,000 down. And here comes Lucid Motors with Air where it is the main reason for Tesla’s specific reaction. The Chinese company announced specifications and price for the new electric sedan where it is at $77,400 before incentives ($69,900 after the federal tax credit).
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Currently, Tesla customers no longer have access to the federal tax credit for electric vehicles in the US. Perhaps this move now shows that the Model S is feels the breath of competition from Lucid. But on the other hand Lucid air will be available at least in a year. Does Tesla want to prevent potential customers from pre-paying for the Lucid Air? Maybe it is.