Tesla increased the price of the Model X Plaid by $5,000.

Tesla increased the price of the Model X Plaid by $5,000.

Tesla Model X

Tesla increased the price of the Model X Plaid by $5,000. The Tesla Model X Plaid now starts at $94,990 from $89,990. 

The price increase occurred within the last few days or hours. On October 15, 2023, the Tesla Model X Plaid’s price was still $89,990. The Plaid Model X has an estimated delivery date between November and December 2023. It does not qualify for federal tax credits under the Inflation Reduction Act (IRA).

The Dual-Motor Tesla Model X AWD still starts at $79,990 before options. It qualifies for the $7,500 federal tax credit under the IRA until December 31. 

As of this writing, Tesla has not changed the price of the Dual-Motor Tesla Model S AWD or the Model S Plaid. The Tesla Model S AWD costs $74,990 before options, while the Plaid version starts at $89,990. 

In August, Tesla announced price cuts for the Model S and Model X—around the same time, it launched the new Model 3 Highland in certain regions around the globe. After the price cuts, Model X delivery dates were pushed back, hinting at a wave of orders for the all-electric flagship SUV.

After the Q3 2023 earnings call, analysts worried about Tesla’s price cuts and its effects on the company’s gross vehicle margins. Tesla reported a gross vehicle margin of 17.9% compared to 25.1% earlier this year. It would be interesting to hear what analysts think of Tesla’s recent Model X Plaid price increase.

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