Well, it's less expensive than the entry-level Lucid Air.
The prices of the Performance and Plaid versions remain the same:
- Model S Long Range Plus: $69,420 (down $2,570 or 3.6%% from $71,990 and $5,570 or 7.4% from $74,990)
- Model S Performance LM: $91,990 (down $3,000 or 3.2% from $94,990)
- Model S Plaid (late 2021): $139,990
As for now, we don't see any additional price reduction in China and Europe, so we guess that the move is targeted at the Lucid Air.
The most striking thing is that the entry-level Tesla Model S is not only $480 cheaper than the entry-level Lucid Air (aside from the destination charge), but it's done without the $7,500 federal tax credit and available now (the entry-level Air will arrive in 2022 and starts at $77,400 or $69,900 after deducting the federal tax credit).
The competition is great as customers are getting better offers and can choose from a larger number of models. Hopefully, Lucid Air will successfully enter the market, starting with its amazing top of the line Air Dream Edition next year.