As we recently mentioned, there’s been some confusion in the media about the price of the Tesla Model X. The confusion even spread to Wall Street where analysts have been reducing their target price on Tesla’s stock because of the expensive $132,000 price tag circulating in the media.
To be clear, $132,000 is the starting price of the Signature Model X which is already sold out. The Signature comes standard with the performance package (P90D) and several options which increase the price. For example, a maxed out Tesla Model S cost $138,000, but the base version starts at $70,000. Yesterday Elon Musk confirmed at a Vanity Fair conference that the Model X will have a similar price structure starting next year (when Tesla can actually catch up to demand). During Vanity Fair’s New Establishment Summit, Musk talked about an upcoming less expensive version of the Model X:
“We’ll have a more affordable version out next year that will start at around $75,000 before incentives, about $65,000 after.”
These comments are more in line with Musk’s previous assertion that the Model X will be priced at “about $5,000 more” than a Model S with similar options. But this model will not be available until next year, and that could be until late next year based on Musk’s recent tweet, which he has since deleted, saying that the less expensive smaller battery pack version of the Model X would be available in about “12 month”.
Going back to present versions of the Model X. Following the “Model S plus $5,000” logic, the Model X 90D would be priced at about $93,000, far below the $132,000 price referenced in the media since the launch event last week. Tesla has yet to officially confirm this price, but we should know soon since the 90D will be available to “production” reservation holders and Tesla is about to invite a select few to configure their cars and place their orders.
To avoid any confusion:
- $132,000 is the base price of the Signature Model X P90D which is sold out and being delivered now.
- $93,000 is the unconfirmed, but likely base price of the Model X 90D which will soon be available to configure for reservation holders.
- $75,000 is the base price mentioned by Tesla’s CEO Elon Musk for a more affordable version of the Model X coming probably around late 2016.
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