By Claudia Assis, MarketWatch
The latest tweak in Tesla Inc.’s vehicle lineup saw cheaper Model S and Model X models vanish.
Tesla’s /zigman2/quotes/203558040/composite TSLA +0.18% configuration pages for the luxury sedan and the luxury SUV, where potential customers go to design and order their cars online, now sport a simpler “long range” and “performance” options for those vehicles.
A “long range” Model S, able to go 370 miles between charges and reach 60 miles per hour in 3.7 seconds, starts at $79,990. The “performance” option, which goes 345 miles between charges and reach 60 miles per hour in 2.4 seconds, starts at $99,990.
Tesla also lowered the Model 3 starting price to $38,990. The mass-market sedan’s configuration page continued to offer three variants, starting with a “standard range plus” option at that lower price all the way to a “performance” option starting at $54,990.
“Tesla continues to drive a wedge between Model 3 and S and X in an effort to get the most out of the premium customers while attracting as many entry-level customers as possible,” Gene Munster of venture-capital firm Loup Ventures said in a tweet.
Chief Executive Elon Musk last week hinted at a possible price increase for future self-driving Tesla vehicles.
Tesla, which reported record second-quarter sales earlier this month, scheduled its second-quarter results on July 24 after markets close. A conference call with analysts to discuss the results with Wall Street analysts will follow at 5:30 p.m. Eastern.
Analysts polled by FactSet expect Tesla to report an adjusted loss of 42 cents a share on sales of $6.5 billion in the quarter, which would compare with an adjusted loss of $3.06 a share on sales of $4 billion in the year-ago period.
The stock is down 25% this year, contrasting with gains of 20% and 17% for the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.57% and the Dow Jones Industrial Average. /zigman2/quotes/210598065/realtime DJIA +0.56%