Tesla lowers Model X base price due to improved margins

Tesla has lowered the entry-level price of the Model X SUV, from $82,500 to $79,500. The $3,000 price drop is the result of improved margins for the electric vehicle, which the company achieved thanks to “efficiencies” achieved in the manufacturing process, Reuters reports.

Tesla’s Model X and Model S sales performance were areas of key interest during the company’s earnings report this past week, since analysts had anticipated that the Model 3 and its attractive price point could potentially drive down demand for the more expensive existing vehicles in Tesla’s lineup. It turned out that in the wake of Tesla’s splash Model 3 debut at the end of July, demand grew for both Model S and Model X, according to the company.

On Tesla’s earnings call this week, Musk said that…

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