0 members / 37 guests (24 hours)
-$9.10 (-2.75%)
High: $332.61
Low: $320.26
Volume: 5,898,579

News on IDB Funding -- this is now on it's own page to clean up the site a bit.

Tesla Ignores Q2 Record Cash Burn And Slashes Its Model X And Model S Prices

Tesla Ignores Q2 Record Cash Burn And Slashes Its Model X And Model S Prices

zerohedge.com / by Tyler Durden / Aug 4, 2017 11:57 AM

So what do you do when you’ve just burned through a record $1.2 billion of cash in one quarter, expect to burn an additional $2 billion in capex in the second half of the year and haven’t a prayer of generating positive earnings at any point in the near future?  Well, you slash your product prices, of course.

Apparently this is exactly the strategy that Elon Musk has decided to pursue with his Model X after quietly slashing its price tag from $82,500 to a far more affordable $79,500 last night.  Tesla explained the price cut via the following statement:

 “When we launched Model X 75D, it had a low gross margin. As we’ve achieved efficiencies, we are able to lower the price and pass along more value to our customers.”

But it wasn’t just the base MSRP on the Model X that got a price cut, as electrek points out, Tesla also decided to cut prices on the their Model S and throw in their $5,000 premium package for free.

 All dual Motor Model S vehicles also got a slight $1,500 price drop, but the Model S P100D and Model X P100D were the most affected by last night’s changes.

Tesla updated the options of the vehicles to add more premium features as standards.


RepliesTypeAuthorRecsPost DatePost
GNTobyw008/05/2017, 3:03pm