Tesla Price Drop: Model S Cheaper With Feature Upgrades

(Photo: REUTERS/LUCY NICHOLSON)The Tesla Model S lined up and on display in Hawthorne, California in 2014.

Tesla is slashing the base prices for most of its Model S, Model X and 90D vehicles by as much as $5,000. This move is seen as a preparation for the Model 3's reveal, possibly in July this year.

The move could also be an adjustment for the discontinued Model S 60 and Model 60D, which were discontinued for good on Sunday, April 16. The base price for the Model 75 and 75D is being slashed by a sizable $5,000, bringing the cheapest Model S available at $69,500 as noted by Engadget. The Model X will see a discount of $3,000 as well for its own 75 and 75D models. 90D versions of the Model S and Model X will be cheaper by $2,000 as well, according to The Verge.

While the Model 75 and 75D still have $1,500 premium over the discontinued models, the company is making the upgrade worth it by bringing a few upgrade perks down to the baseline as standard features.

The glass roof, previously a $1,500 option, now comes standard with all Model S variants. The automatic rear power lift gate is now a base feature as well.

Owners of upgradeable 60 or 70 variants also get to upgrade to the 75kWh capacity at a huge discount. For example, the Model S 60 upgrade now costs $2,000, down from the previous $9,000. Model S 70 owners looking to step up to 75 will now shell out $500 instead of the previous $3,500 upgrade price.

While some Tesla cars will be seeing big discounts, several of their models will actually get price hikes. The flagship Model S 100D is getting a $5,000 bump up in price, while the Model X 100D gets more expensive by $1,000. It gets even bigger — the Model S P100D price is going up by $5,500 while the Model X P100D is adding a whopping $9,500 to its price tag. These new prices go into effect on Monday, April 24.