Tesla has cut the price tag on its luxury models — again. The Model S is now $89,990, down from $94,990. The Model X is $99,990, down a whopping $10,000. The Plaid version of both luxury vehicles is $109,990. The company has been slashing prices in 2023. As a result, the Model S Plaid is now $26,000 cheaper, and the Model X Plaid is $29,000 cheaper than at the start of January.
The Model 3 and Model Y prices were not changed; however, those vehicles have already had their prices reduced in 2023.
New Hardware is Coming
The latest price adjustment comes on the heels of Investor Day, where CEO Elon Musk said that demand for Tesla is infinite. Usually, if a product is in such demand, the company would not lower prices but rather increase them. But, there is a big change on the horizon for Tesla — Hardware 4.
HW4 has already appeared in a few Model S and Model X vehicle on the company’s parking lot in Fremont. The system is supposed to be significantly improved from HW3, including better cameras. These luxury vehicles don’t sell in the same volume as the Model 3 and Model Y, so it would make sense that Tesla is trying to lure buyers to clear out all the HW3 vehicles before launching HW4.
Lack of Demand?
Some skeptics will say this price cut is due to a lack of demand. We are entering the last month of the first quarter, and all companies are looking to pad their sales stats. However, as previously stated, these two models do not have the same sales volume as the less expensive models offer. Plus, at Investor Day, company executives spent much time explaining how Tesla reduces costs and finds more efficiency. Perhaps that is equally more affordable luxury models.
In January, Tao Lin, a Tesla Vice President in China, explained how price adjustments work. “The price adjustment reflects our better planning for the supply chain in a sense, and what level the vehicle cost will be, and then we make such adjustments according to this estimate." Lin explained, "The price adjustment of a product is actually a forecast of the company's cost changes in the next period of time. The biggest difference between 2023 and last year is that the epidemic has basically passed. We believe that the supply chain has returned to normal to a large extent, and there will be no such unpredictable shortages of materials as in previous years, which brought cost uncertainty."
Only time will tell if these price cuts will increase demand for Tesla's luxury vehicles, but for now, they offer an attractive option for those in the market for a high-end electric car.
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Rendering of what Tesla's license plate feature could look like
Not a Tesla App
Tesla update 2024.38 has started rolling out to several regions and vehicles. Thanks to Tesla hacker Greentheonly, we have a behind-the-scenes look at some new features coming to Teslas.
License Plate Display
According to Greentheonly, it looks like Tesla may soon let you display your actual license plate in the vehicle’s visualization on the screen. In our article, The Most Request Tesla Features, several readers suggested displaying the vehicle’s license plate in the visualization instead of a blank, white plate.
It looks like Tesla will be doing just that, at least in China. Green found references that appear to conclude that you’ll be able to display your vehicle’s plate on screen. This will likely be user input, so you could have it say anything you’d like, and it doesn’t have to be your actual license plate.
For many owners, who may find it difficult to remember their license plate, this could serve a practical purpose in addition to adding to the visualization's realism.
While Green was only able to say it’ll be available in China, we expect this is due to China’s software development team working on it and that it’ll eventually be released worldwide.
While code for this feature was found in update 2024.38, we may not be turned on in China yet. We suspect this feature may be a strong candidate for Tesla’s upcoming holiday update.
FSD Hardware Version Display
As part of the 2024.38 update, Tesla has now made it easy to determine whether your vehicle includes Hardware 3 or Hardware 4. You can now simply navigate to Controls > Software and tap Additional Vehicle Information. In addition to other hardware information about your vehicle, your Autopilot hardware version will now be listed as well.
You can see whether your vehicle has HW2.5, HW3, or AI4. This in-car display is useful, but if you don’t have access to the vehicle, you can always use our guide on how to determine the hardware version of a Tesla.
New Battery Health Test & Service Mode Improvements
Green found some additional things as well. There’s a new and improved Battery Health Test. The new test will show you how your car scores compared to similar vehicles in the Tesla fleet.
In addition, maintenance records can now be permanently stored “in the car.” It doesn’t appear that this feature is activated yet, but it’s likely in active development with some parts leaking out in the 2024.38 update.
Tesla has included various Service Mode improvements and new visualizations in this update.
Mr Li on X came across some covered-up Project Juniper vehicles recently and he managed to get various shots of the vehicle.
Juniper Images
This front image reveals what looks like two rows of lights, possibly confirming the front light bar for the Model Y refresh — similar to the one on the Cybercab.
The rear side has a lot of lights on it!
Mr Li on X
The rear side shows a ton of brake lights, but it’s not clear why. While it looks like the Model Y refresh will also feature a rear light bar similar to the Cybertruck, there isn’t strong evidence of that in this photo.
Mr Li on X
There's an obvious set of lights at the bottom, so it looks like the Model Y refresh will be similar to the new Model 3 where the bottom lights can operate as brake lights when the one-piece tail lights and trunk are up.
Mr Li on X
In the last photo, we see that the overall form factor of the refreshed Model Y will remain unchanged, and Tesla is focusing the changes on the front and rear ends of the vehicle, much like the Model 3 refresh. However, in this one shot, we can also see what appears to be red light leaking out of the rear camera cover opening, possibly due to the rear light bar.
The Model Y is not only Tesla’s best-selling vehicle but also the world’s best-selling car in 2023. This year, it’s expected to be the best-selling vehicle in the United States and again in the world, so this refresh will be huge for Tesla.
@DominicBRNKMN made another fantastic set of concepts based on these new images. Given he had the most accurate Model 3 Highland concept before the official launch, we’re pretty sure his latest work be close here as well.
@DominicBRNKMN
We’re super excited to see the eventual reveal of Project Juniper, which is expected in the first half of 2025. However, expect to see a few more leaks before production kicks off at Giga Shanghai.
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