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Tesla cuts prices of Model S, Model X as stock slumps

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Faced with a slumping stock price and questions about demand for its vehicles, Tesla has lowered the US base prices of its two most expensive models.

The company on Monday cut $3,000 from the price of the Model S sedan and $2,000 from the Model X SUV.

Tesla wouldn’t say if slowing sales influenced the decision. But the company did say it periodically adjusts prices and available options like other car companies. Tesla says the decreases offset price increases from a month ago when it offered longer battery range and added a new drive system and suspension.

The Model S now starts at $71,250 while the X starts at $71,950. Both prices don’t include federal and state tax credits.

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