Business News

Elon Musk says he's slashing the bottom value for Tesla Mannequin S to $ 69,420

"The glove was thrown off!" Musk wrote on Twitter. "The prophecy will come true. The price of the Model S will change to $ 69,420 tonight!"

Grow your business, Not your inbox

Stay up to date and subscribe to our daily newsletter now!

14, 2020

2 min read

This story originally appeared on Engadget

The base Tesla Model S will now retail for $ 69,420, CEO Elon Musk said in a tweet on Tuesday, announcing that the glove had been "thrown off" in response to Lucid's announcement that its 406-mile Air sedan would have a price to compete with Tesla's larger sedan. It's the gender number and the weed number. Got it?

Aside from the obvious youthful sense of humor, the price also evokes some of Musk's earlier Twitter gimmicks. In July, Tesla sold a range of “short shorts” with “S3XY” (a game on the word sexy made up of Tesla's model name) written in gold across the seat. Your price? $ 69,420. Why the additional digit? Those last three numbers related to Musk's 2018 tweet about the privatization of Tesla for $ 420 per share, which resulted in a massive fine from the SEC and removed Musk as Tesla chairman. It's funny, isn't it?

The glove was thrown off!

The prophecy will come true.

The price of the Model S changes to $ 69,420 tonight!

– Elon Musk (@elonmusk) October 14, 2020

While Musk's announcement may seem a bit reactionary, the Model S was already slated for a price cut. Tesla announced Tuesday that the base price for the Model S Long Range sedan had been reduced from $ 74,990 in the United States to $ 71,990. In addition, the starting price of the Model S in China has been reduced by 3%. Earlier this month, the automaker cut the starting price of its China-made Model 3 sedans by about 8% to 249,900 yuan ($ 36,805).

The list price of $ 71,990 was still available on Tesla's consumer website as of Wednesday afternoon. $ 69,420 would be a 7.4% decrease in base price from the previous $ 74,990, which is great for new customers – but not that great for the resale value of the Model S.

Related Articles