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HomeBusinessAfter an initial price cut earlier this year, Tesla has reduced the...

After an initial price cut earlier this year, Tesla has reduced the cost of the Model S and Model X in the United States  

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Late Sunday night, Tesla Inc. (TSLA) cut the price of its Model S car and Model X SUV in the US by $5,000 and $10,000, respectively, in an effort to boost demand in the remaining month of the quarter.

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According to the company’s website, the Model S all-wheel drive is now $89,990, down 5.2% from $94,990. The Model S Plaid is now available for $109,990, a 4.3% decrease from $114,990.

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Model X all-wheel drive costs $99,990 right now, down from $109,990 by 9.1%. Priced at $109,990 instead of $119,990, that represents an 8.3% decrease.

Elon Musk, the company’s CEO, and other executives highlighted cost-cutting and production efficiency at the company’s investor day on March 1 at Tesla’s factory in Austin, Texas.

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