Tesla's new Models S, X available at cheaper price

New S and X "standard range" versions are priced at $78,490 and $88,490, respectively
A Tesla model 3 car is seen in their showroom in Singapore. — Reuters/File
A Tesla model 3 car is seen in their showroom in Singapore. — Reuters/File

Tesla has launched two less expensive, shorter-range variants of its Model S car and Model X SUV in the United States, continuing its focus on lowering costs to prioritise sales growth, as per the automakers' website.

The new S and X "standard range" versions are ready for delivery and are priced at $78,490 and $88,490, respectively — around 10% less than the previous lowest-cost models.

Cars with a "pearly white" exterior and an all-black interior are the least expensive, other colours are more expensive.

The new model S's maximum driving range is 320 miles (515 km), which is less than the maximum driving ranges of the basic and performance trim levels, which are 405 miles and 396 miles, respectively.

The new model X SUV's range, which can go up to 269 miles, is significantly less than that of its basic and performance trims, which can go up to 348 miles and 333 miles, respectively.

Tesla did not immediately respond to a request for comment on the new versions of the models.

Since late last year, the Austin, Texas-based automaker has lowered prices in the US, China, and other regions and provided various incentives to reduce inventory in an effort to fend off rivals and uncertain economic conditions.

The business lowered prices for its model Y long-range and performance variants in China on Monday, sending shares lower on worries that its profit margins will come under more pressure.

The most recent actions are being made as the automaker prepares to deploy its delayed Cybertruck for the first time and works to finish a facility in Mexico dedicated to a mass-market EV that will serve as the foundation for a robot-taxi.

The Model 3 sedan and Model Y crossover vehicles are Tesla's newest products, whereas the S and X versions debuted in 2012 and are more expensive.

In the second quarter of this year, the business delivered 19,225 Model X and S automobiles, up from 16,162 in the corresponding period last year.