Within days of releasing their Q3 financial results, Tesla Inc. announced on Tuesday that it would be reducing the price of the Model S “Long Range” sedan by 4% in the United States. This news comes after the electric car manufacturer reported record quarterly deliveries.
With their third-quarter results scheduled to be officially reported on October 21, Tesla’s Model S will cost just $71,990 as opposed to the originally quoted retail price of $74,990. Tesla will also reduce the price of Model S in China by 3%.
Currently the world’s largest vehicle manufacturer, Tesla Inc. manufactured just over 139 thousand vehicles in the third quarter—an all-time record for the company. While still a long shot, Chief Executive Officer Elon Musk remains confident that his company can meet its ambitious target of producing 500,000 cars for the year.
While this goal was set prior to the coronavirus outbreak that disrupted the international automotive industry, this ambition remains unchanged since. In order to achieve this feat, Tesla will be required to produce nearly 182,000 in the final quarter, nearly 43,000 more vehicles than the company’s all-time record.
