Tesla has unveiled the Standard Range variants of the Model S and Model X. These original flagships symbolize the brand's essence but have historically not contributed to the bottom line like the less expensive Model 3 and Y have. This move can only be seen as responding to market demands for more cost-effective luxury electric vehicles. Tesla can cater to a broader spectrum of potential buyers and add some more Model S and X sales to the quarterly reports,
Features and Pricing: What's New?
The Model S and Model X Standard Range offer an intriguing blend of affordability and performance. The Model S Standard Range is priced at $78,490 USD, with an estimated range of 320 miles, a top speed of 149 mph, and acceleration from 0-60 mph in 3.7 seconds. The Standard Range sees the vehicle's range reduced by 80 miles and slower acceleration (slower to 60 mph by 0.6 seconds) when compared to the regular Model S.
Model S Comparison
Model S Standard Range | Model S | Model S Plaid | |
Range | 320 mi | 405 mi | 396 mi |
0 to 60 mph | 3.7 sec | 3.1 sec | 1.99 sec |
Price | $78,490 | $88,490 | $108,490 |
The Model X Standard Range, priced at $88,490 USD, shares the top speed with the Model S but has a range of 269 miles and a 0-60 mph acceleration time of 4.4 seconds. Both models have Dual Motor All-Wheel Drive and default Pearl White Multi-Coat paint. Similar to the Model S, the Model X Standard Range has its range reduced by 79 miles, and its 0 to 60 mph acceleration raised to 4.4 seconds (up from 3.8 seconds).
Model X Comparsion
Model X Standard Range | Model X | Model X Plaid | |
Range | 269 mi | 348 mi | 333 mi |
0 to 60 mph | 4.4 sec | 3.8 sec | 2.5 sec |
Price | $88,490 | $98,490 | $108,490 |
The anticipated delivery timeline for both new variants is September to October 2023. Tesla's potential software-locking strategy to create more affordable variants may spur sales and offer flexibility for future capacity unlocking through software updates.
The Gap in the Lineup: Analyzing the Numbers
Tesla's 2023 second-quarter numbers sharply illustrate the contrast between the original flagships and the more budget-friendly models. The Model S and X only accounted for 5% of sales:
Model S/X production: 19,489, deliveries 19,225
Model 3/Y production: 460,211, deliveries 446,915
Total production: 479,700, deliveries 466,140
With the Model 3 Performance priced at $53,240 and the Model S Standard Range at $78,490, the substantial price gap has long been a point of contention. The new Standard Range variants may attract customers looking for a midpoint between luxury and affordability, thus enhancing Tesla's market appeal.
Canadian buyers can enjoy savings of $13,000 CAD with the Model S and Model X priced at $108,990 CAD and $122,990 CAD.
Tesla's introduction of the Model S and Model X Standard Range variants marks a strategic milestone in its mission to expand accessibility. By offering a stepping stone between its entry-level and luxury models, Tesla is poised to attract a broader audience without compromising the performance and luxury that define the brand.
