Tesla significantly lowers the Model S 75 kWh price

Tesla Motors has officially discontinued the Model S with 60 kWh battery pack. The Model S 60 kWh was introduced a year ago as a more affordable option to accelerate the adoption of electric vehicles. According to the company, most customers ended up buying an equivalent to the Model S 75 kWh.

Tesla's Model S 60 and 60D were company's least expensive models with their price starting at $68,000. With them out of the picture, Tesla's cheapest car is Model S 75 kWh, with a $77,000 price tag.

However, Tesla has announced today that the Model S 75 kWh has received a significant price drop - $7,500, meaning that the new price of the car is $69,500. That's just $1,500 more than the 60 kWh version, which has been discontinued.

Tesla will adjust the prices of their higher-end 100D and P100D models next week when their prices will slightly increase.

Tesla's spokesperson issued a statement regarding the price changes.

Periodically we have adjusted pricing and available options to best reflect the value of our products and our customers' preferences. Today's updates include slight price decreases to our 75, 75D and 90D models to account for the discontinuation of our 60 kWh models, and next week we will be implementing slight price increases to our higher-end 100D and P100D models. We expect our total average selling price to remain almost exactly the same.

Price increases for our 100D and P100D models will take effect on April 24, 2017 to best accommodate customers already in the order process, while price decreases for 75, 75D and 90D models will take effect today.