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 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!"
The gauntlet has been thrown down!— Elon Musk (@elonmusk) October 14, 2020
The prophecy will be fulfilled.
Model S price changes to $69,420 tonight!
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?