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Tesla Model S Price Drops to $69,420, per Elon Musk's Tweet

The intriguing number isn't entirely random, or just based on childish humor.

Tesla Model S Price Drops to $69,420, per Elon Musk's Tweet
Tesla Model S in a showroom located in Amsterdam.Sjo/iStock

Tesla's Model S just became cheaper. 

The company's CEO, Elon Musk, posted a short but sweet message on Twitter on Wednesday evening saying the price of the Model S would go down to $69,420

The rather ridiculous number isn't just for giggles, however. Musk is most likely taking its new EV competitor, Lucid, seriously and bringing the cost of the similar Model S down to lure clients in. 

SEE ALSO: NEW FULLY-ELECTRIC 517-MILE RANGE LUCID AIR SURPASSES TESLA'S MODEL S

Competition

The change in price for Tesla's Model S didn't happen out of sheer boredom. It was a clear response to Lucid's Air drop in price. 

It's clear it's a competition, as Musk's tweet began with, "The gauntlet has been thrown down!"

Earlier on Wednesday 14th, Lucid announced it was bringing its entry-level vehicle down from $80,000 to $77,400. With the $7,500 tax credit, this would bring the Lucid Air's cost to $69,900, per TechCrunch.

Now it's clear to see why the Model S' price is just below Lucid's, so why not have a bit of fun with the numbers? Sixty-nine is a clear young teenager's joke, and 420 is a 'weed' reference. All very juvenile but pretty harmless. 

Lucid's Air sedan is a strong contender as competition to Tesla's Model S. Lucid's vehicle has an extra four miles of range, and now only costs slightly more than the Model S, given most people will be taking the tax credit. 

As Tesla can no longer access this federal tax credit, it makes sense that the vehicles are competitively priced, per Electrek.

This new price cut is the third to happen to the Model S this year. The price started at $80,000 and is now down to $69,420. The question is, will it just keep dropping?

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