Tesla price plunge - but will it happen here? 2024 Tesla Model S and Model X prices cut by about 20 per cent in US!

Tesla has taken the angle grinder to its pricing for the two more premium cars in its stable, the Model S sedan and Model X SUV, with its pricing in the US dropping by about a fifth for each.

While neither car is on sale in Australia currently, it suggests the company has been able to lower production costs or level out supply to revert the price increases for each model the US had seen over the last couple of years.

Pricing tracked by US EV outlet Insideevs shows the Model X and Model S prices have both fallen by more than US$20,000 since late last year, with the Model S now starting from US$89,990 in its home market, and the Model X from US$99,990.

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At last report, the entry pricing for a Model S in Australia was AU$162,559 plus on-road costs for its entry-level Long Range, while a Model X started at AU$189,159.

While the new US prices won’t translate to exact prices in AUD, the pricing for Australian customers could still be lower than before once buyers here are able to get their hands on either X or S.

For reference, US$99,990 converts directly to AU$149,000, and US$9,990 to AU$134,000, both more than $30,000 below the previous entry prices, though not taking into account different taxing in Australia such as the LCT.

The Model S and X Plaid are also much cheaper than before in the US, the S US$114,990 from US$135,990 and the X down from US$138,990 to US$119,990.

CarsGuide has contacted Tesla’s Australian outpost for more information regarding the status or plans for Model X and Model S locally. Both have been unavailable locally since their facelifted versions went into production.