Tesla cuts the price of the Models S and Model X

Tesla has lowered the US base prices of its two most expensive models, the Model S sedan and Model X SUV.

The electric carmaker's price cuts come amid a slumping stock price and questions about demand for its vehicles.

Tesla wouldn't say if slowing sales influenced the decision, but the company did say it periodically adjusts prices and available options like other car companies.

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Faced with a slumping stock price and questions about demand for its vehicles, Tesla has lowered the US base prices of its two most expensive models.

The company on Monday cut $3,000 from the price of the Model S sedan and $2,000 from the Model X SUV.

Tesla wouldn't say if slowing sales influenced the decision. But the company did say it periodically adjusts prices and available options like other car companies. Tesla says the decreases offset price increases from a month ago when it offered longer battery range and added a new drive system and suspension.

The Model S now starts at $71,250 while the X starts at $71,950. Both prices don't include federal and state tax credits.

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