Wrestling eroding tax credits for electric vehicles in the US, Tesla has now announced new names and prices for the Model S and Model X. This, however, comes with no change in any of the features or technology in the models.
All trims of Model S and Model X were so far named after the size of their batteries such as 75D, 100D, P100D etc. However, as far as new names go, the latter P100D will be called ‚ÄúPerformance‚ÄĚ models and the ones equipped with Ludicrous mode will be called ‚ÄúPerformance with Ludicrous Mode‚ÄĚ. And the addition of this Ludicrous Mode will set one back by a whopping $20,000.
Tesla will retain the naming on Model S and Model X base models without any other designation. These cars will feature the same 100kWh battery pack as in the Performance models which are locked through software to deliver 498km on the Model S and 434km on Model X. However, with an additional $8,000 one can unlock the extra range for the models pushing the range up to 539km for the Model S and 474Km for the Model X.
The overall revamp is slightly adjusted with every trim being priced $1,000 lower than their previous bracket. This is mostly in line with Tesla‚Äôs $7,500 federal tax credit going down. Additionally, this is also similar to how the company currently markets and sells the Model 3.
Falling EV Tax Credits And Falling Sales
In light of the eroding tax credits, the company also eked out a small quarterly profit on Wednesday but predicted that the first quarter of 2019 would be more profitable for the company. In the final quarter of 2018, Tesla reported a net profit of $139.5 million dollars which was significantly lesser than the $311.5 million profit in the third quarter at the time of federal tax credits.