Tesla cuts prices of Model S and Model X variants in U.S. – website

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Prices of Tesla (NASDAQ:TSLA)’s Model S cars were cut by $5,000. The basic version of Model S would now cost $89,990, down from $94,990 before, while its performance variant would cost $109,990, from $114,990 earlier.

Prices of both the performance and basic variants of Model X cars were cut by $10,000, the electric vehicle maker’s website showed. The basic version would now cost $99,990 while its performance Plaid version would now cost $109,990.

Musk has said repeatedly in recent months that Tesla would focus on bringing prices down to drive demand and that it had seen success in sparking orders with global discounts introduced in January.

“The desire for people to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla,” Musk said last week at Tesla’s investor day.