Tesla Motors Inc (NASDAQ:TSLA) introduced a lower-priced version of its Model X crossover with a shorter range. This is the second time the electric car manufacturer reduced prices after missing its sales target, which ignites questions regarding the slowing demand for its vehicles.
According to Tesla, the new Model X 60D with a 60kWh battery and estimated EPA range of 200 miles will cost $74,000. The price is $9,000 less than the Model X 75D with 237 miles range.
The Model X 60D and the Model X 75D have similar top speed of 140 mph and acceleration of 6 seconds at 0-60 mps. Both vehicles are all-wheel drive and have a motor power of 256 hp front and rear.
Giving customers flexibility to choose Tesla model
Tesla said the Model X is the “safest, quickest and most capable sport utility vehicle in history, and existing Model X owners are loving their cars.” The electric car manufacturer decided to introduce the Model X 60D to give customers the “flexibility to choose the Tesla model, price point and range that best fits their lifestyle.”
“Our versatile product platform and efficient manufacturing processes make it possible to seamlessly extend these types of compelling offerings to customers,” said Tesla.
Last month, Tesla introduced two new versions of the Model S, which has a starting price of around $76,000 but customers usually oay $100,000 for the vehicle equipped with the biggest battery and premium options.
The electric car manufacturer is offering the Model S 60 and the Model S 60 D all-wheel drive with a starting price of $66,00 and $71,000, respectively. Both vehicles have a battery pack of 75kWh capacity, but will be limited to 60 kWh capacity.
In 2017, Tesla is expected to start delivering the Model 3, which has a starting price of $35,000. There is a strong customer demand for this model as the company received 373,000 net reservations as of May 15. That number is probably higher now.
Lower-than-expected vehicle deliveries
Tesla decided to advance its high-volume production by two years to 2018, but industry experts believed that is was impossible and potentially expensive. Its target is to produce 500,000 total vehicles (Model S, Model X, and Model 3 combined) by 2018.
Last week, the electric car manufacturer reported that it missed its delivery target for the second quarter. Its delivery was 14,370 vehicles, lower than its target of 17,000 units.
According to the company, the extreme production ramp and high-mixed of customer-ordered vehicles still on trucks and ships by the end of the quarter were the primary reasons for its lower-than-expected vehicle deliveries.
 introduced a lower-priced version of its Model X crossover with a shorter range. This is the second time the electric car manufacturer reduced prices after missing its sales target, which ignites questions regarding the slowing demand for its vehicles.){kind=link}